MPC oil going to $65 global slowdown on the horizon
$7 a gallon gasoline here in California, layoffs have begun, 6.5-7% interest rates on a 30 year mortgage, demand will slow as the layoffs pick up speed and worldwide slowdown has begun. Too many have been crowding the energy trades and longer term oil will be much lower. MPC has experienced a dead cat bounce likely nothing more....
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Closed trade on todays drop, will wait for a bounce to re-enter.