Here’s What To Watch As Oil’s Liquidation Sell-Off Continues

The drop in the price of oil is making the pullback in the stock market seem mild in comparison.

After a rough month, the price of crude dropped over 7% today. This could be a foreshadowing of a global recession in the not too distant future.

The technical indicators are showing that support levels are being taken out. In the short term, watch the $55 dollar level. Technically, this is important because a break to the downside would mean a lot more pain.

We are seeing the dollar strengthening which is usually a bad sign for commodities and EEMs.

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