What This "Ice Level" Means to Future Oil Prices

You'd have to be living under a rock (and one without Internet access at that) to have missed the oil price swoon that has taken place since June. Even after a recent bounce back from an under-$50 per barrel low, and a trough-to-peak rebound of 24% since the end of January, the technical picture does not indicate smooth sailing upward from here. In fact, if there's only one metric we need to look at to determine where oil prices are going, it would be this one, and it's not showing the type of move we're hoping for any time soon. The post What This "Ice Level" Means to Future Oil Prices appeared first on Money Morning - We Make Investing Profitable .