In my April 15 Barchart quarterly report on the energy sector, I highlighted my bearish view of crude oil prices, concluding:
Bullish and bearish factors have tilted toward the bears in early Q2. Hostilities with Iran could cause sudden upside spikes in oil prices now that the price has dropped below $60 per barrel. However, if the current trend continues, my target for crude oil is $50 per barrel, with the potential for even lower prices.
