Another outer space view: Is a crude oil price collapse possible
The super long term chart of oil is very difficult to obtain, not to mention analyze.
However...
Something strikes me as peculiar today. Why does the rise from 2000-2008 look like it only happened in 3 waves?
If that is the case, then isn't it possible that this commodity, essential and integrated into all our lives now, could collapse in the coming months or years?
Also, the Iranian missile strike and threat of war caused a spike in oil prices. However, why did it continue to drop straight through several support levels after some order was restored? Very peculiar.
This is just pure food for thought speculation.
However...
Something strikes me as peculiar today. Why does the rise from 2000-2008 look like it only happened in 3 waves?
If that is the case, then isn't it possible that this commodity, essential and integrated into all our lives now, could collapse in the coming months or years?
Also, the Iranian missile strike and threat of war caused a spike in oil prices. However, why did it continue to drop straight through several support levels after some order was restored? Very peculiar.
This is just pure food for thought speculation.
Comment:
We are at critical support juncture now. If broken, the downward path that I have drawn may come to reality.
Comment:
Critical support level broken today. Black swan event incoming.