Where Does Oil Go Next After Dip Below $100

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Oct. 21 (Bloomberg) -- Bloomberg's Scarlet Fu and Bloomberg Tradebook’s Gregory Bender, put futures in focus with a look at the oil market in "On The Markets." They speak on Bloomberg Television's "In The Loop."

We move on now to futures and focus, with the nymex dipping below $100 for the first time since july.

With more on how low it could go, greg bender joins us now.

Greg, we are about to come back above that centennial mark, but this is about an increase in supply, is it not?

Traders are really focusing on that.

The back shop that we chart is oil sales at $110 and 2011, 2012, traders wonder if it will happen again in 2013. i know that you traded oil futures for years.

Are people really placing trades at stopgap order marks?

At it is more of a psychological barrier over anything else.

We just broke a bullish trendline, which was not good.

November futures rolling off aboard tomorrow, there is a trade between november and december based on what is happening in the market.

Are they more likely to test that one time number or go down to 95? it really depends on the fundamental outlookbelow $100 for the first time since july.

With more on how low it could go, greg bender joins us now.

Greg, we are.

I know what the charges saying.

They are saying that 110 is being valued three years in a

This text has been automatically generated. It may not be 100% accurate.

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