It certainly will be below $50, and maybe $40?
Intra-day, it's cracked $50 today... we'll see where it ends up.
I could be wrong, but I just don't see it going gown as far as it did in 2009. The whole world economy was on the brink of disaster then... demand sank to nothing. Demand really hasn't dropped this time around. Supply is driving this downturn.
Prices are ALREADY low enough to impact future supply... all that is needed is, Time. But, lower prices will drive up demand..... I think it already is. Somewhere, the two will come into balance. It's just a matter of where?