RE:2016 forecast...Easily could hit $12. Look at charts of debt loads and insolvencies in Alberta and compare the last (brief) oil crash to the one happening now. It has a way to go. Best case for longs is for oil to plunge in the low $20's and for something to fundamentally change in the oil markets. The chances of iran and sauds firing missiles at eachother is slim. I think it was just a lame attempt of a Twitter war of words to try and boost profits. TA also says bottom around 12.