Cramer’s two signs that oil’s bottomed already
Now that the price of crude has rebounded back up to $52, Jim Cramer wants to know whether black gold has reached a rally that is sustainable, or will it make a staggering decline back down into the $40s?
“That is a huge question for this market, especially since the make-or-break point for so many oil companies is roughly $45 a barrel, just $8 below the current price of crude,” said the “Mad Money” host.
To find the answer, Cramer turned to Carolyn Boroden, a technician who is a colleague of Cramer’s at RealMoney.com.