Oil Gets Whacked, Breaks Below Recent Trading Range

摘要

Heavy selling pushed oil futures beneath the lower limit of trading ranges that had held up for the last three months and traders said the breakout could send prices even lower in future sessions. Traders attributed the move to a combination of financial, fundamental and technical factors, with some pointing to the Greek debt crisis and recent volatility in the Chinese stock market, while others simply see a market oversupplied with crude oil.