Replies to post #14441 on VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[Peasodos]

idk how low it will go, but there is alot of open long positions in oil. I'd assume all those would have to flush through the system to get an ultimate bottom. There would have to be some substantial cuts in production somewhere around the world to re-balance the supply demand scale. I don't see oil rebounding anytime soon until the fundamentals change.