$50 Crude Is Not Low Enough and Has More Room to the Downside
Peter Amandio correctly called crude moving into the $50s in 2014 and says to expect more pressure in 2015, but not forceful enough to warrant a sell off.
Peter Amandio of Chicago Energies correctly called crude moving into the $50s in 2014 and he tells TheStreet's Jill Malandrino to expect more pressure in 2015, but not as forceful of a move in terms of a sell off. While Amandio is a cautious short at this point, he still believes $50 crude is not low enough and there is room to the downside, especially with no resolution between OPEC and non-OPEC members regarding supply. Amandio believes the longer-term charts in natural gas look very similar to crude when it came off violently, but keep in mind next week sees cold weather in the Northeast and it really is a play on weather at this point.
