Renowned energy trader Mark Fisher says the faltering oil market is close to bottoming out, and investors can be relatively sure that crude futures will jump by $10 rather than drop by that amount.
"I think there's limited downside," the MBF Clearing founder and CEO told CNBC's "Fast Money: Halftime Report" on Monday. "If you ask me what the next $10 is, is it up or down? I think it's up."
That move may not come for another month or two, according to Fisher.
Crude futures have tumbled more than $20 a barrel from their four-year highs last month, plunging into a bear market. U.S. crude was trading higher at almost $57 on Monday, while Brent crude was roughly flat at under $67 a barrel, following three straight days of gains for both benchmarks.