Crude Oil finally liquidated to $75 on the back of a plunging equity market and the trouble going on in Europe. WTI spreads were the first key indicator as spreads started to get very weak 3 weeks agio as supplies continued to rise in cushing. I believe that this $75 mark is a very big support area and Crude will bounce off this as traders start taking profits on the 13% slide. The VIX has increased every day and this is good for the day trader as you can probably see swings of $2 or more every day in the energy market.
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