Markets Insider | BANK OF AMERICA: 'Oil is in a downtrend and risks trending into the $30's' Markets Insider According to Paul Ciana, a technical strategist at Bank of America Merrill Lynch, oil is headed even lower and could revisit levels it hasn't hit in over a year. "Oil is in a downtrend and risks trending into the $30's," Ciana said in a note on Tuesday ... US crude oil enters bear market after tumbling 3% below $43 a barrel Oil Drops to Seven-Month Low as Libya Adds to Persistent Surplus Oil slides into bear market as supply angst persists |