Crude was murdered today and left for dead on the road side. Traders shucked long crude positions like a dog scratching fleas. While today was extraordinary, it appears all that transpired was a wave 2 correction of the up move from the $44.13 low. It just happened to be all in one swoop. When charts produce a “falling off a cliff” type pattern, it leads me to anticipate the next most probable move to be to climb right back up again. If you have fuel needs , one may want to use this decline to secure a portion of those needs.
US Dollar Index:
Very little activity in the dollar today.