West Texas Intermediate and Brent crude prices finished last week at their lowest level since March, posting their fourth consecutive weekly decline, driven by the double whammy of a weakening Chinese economy and a rising rig count in the U.S.
Meanwhile, market watchers seem to be coming out of the woodwork to try to find that magic level that oil prices become a good investment opportunity again.
One quick and easy way to find potential value is to let history be your guide.
Financial markets have a memory, at least the people and institutions that invest in them do, so seeking out historic levels where prices had previously reversed direction is a good place to start.
