In this Bizarro world we live in, Goldman and Merrill pronouncements usually turn out to be the inverse of reality. Well today they both stated oil will likely fall another 44%. See below from Bloomberg (1 hr ago):
"Goldman Sachs Group Inc. and Merrill Lynch & Co. analysts say crude, which fell more than 50 percent from a record $147.27 a barrel in July to a 14-month low last week, may drop another 44 percent should the world economy slip into a recession."
If you recall, when oil prices were peaking (~ $140) earlier this year, Goldman Sachs started predicting that we'd see $200-a-barrel oil soon. Ha! They used this announcement to lure many players into the market - to then crush them all with their massive manipulation efforts.
Don't trust anything these folks say! Oil will now RISE!
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