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Commodity Daily News
No End in Sight for Crude Oil's Bearish Run
Monday, 27 Oct 2008
Taking one look at the anticipated production cuts, the price of Crude Oil turned its back and continued its descent. This move came after only a short period of hesitation at the end of last week. Recessionary fears and worsening economic indicators are driving demand for Crude Oil lower and lower lately.
Traders witnessed a golden opportunity these past few weeks as the price of Crude Oil still had not ceased its month-long bearish run at the end of last week's trading sessions. Today's early trading sessions don't appear to be any different either. Generally good advice for those trading Crude Oil in today's market: taking a sell position might be wise.
