http://money.cnn.com/2014/12/31/investing/crude-oil-52-dollars-ev...

http://money.cnn.com/2014/12/31/investing/crude-oil-52-dollars-even-lower/index.html?iid=HP_LN
Look out below! The plunge in oil prices may not be over just yet.

Oil took another hit Wednesday, sinking below $53 to a level last seen during the Great Recession. It's hard to recall that crude oil traded for over $100 a barrel as recently as July. Few saw the energy meltdown coming. Now that it's here, industry analysts warn another move lower is possible as the momentum remains firmly to the downside. "If this doesn't hold, we could go back to price levels in late 2008 and early 2009 -- down in the $30s. There's no reason why it couldn't happen," said Darin Newsom, senior analyst at Telvent DTN.

The market will probably  follow suit in early 2015, just as it did in 2008.