Crude: Point and Figure Chart indicates Target of 130-140

NYMEX:CL1!   Light Crude Oil Futures
426 8 4
I think this Wykhoff view on Crude Point and Figure Chart is quite striking. As long as we stay with LPS above PS, we should prepare to see prices above 130 within reasonable time.
how do you access the PnF chart on trading view?? Thanks
Yes, I familiar with the issues surrounding fracking. But how does this explain how we would get to 130 a barrel? Right now we are having trouble staying above 40, so how do you get to 130? What time frame are you thinking of?
From Point and Figure it is not really possible to tell about the time frame, but personally I think we should be above 80 by the end of the year.
tbuckle darth.stocks
did you mean plus 130 or minus 130 a barrel? lol
for sure... everything still perfect.
so you really thin we are going to go to 130-140 a barrel? What time frame is reasonable for this? Also do you thin we put in a bottom on this shoulder or do you think we still might see 37?
In fact is the P&F Chart telling... But also be aware that shale is just a temporary dream by a few in US. You pump something in the earth to get something out of the earth. <so a wise man would ask what do you pump into the earth and what is the ratio. It is not yet allowed to ask what they pump in since we don't have that many cancer death's as we would need to be allowed... but since it is connected to earth quakes the USGS had to investigate and you should be able to calculate the ratio of how much water you need to get one barrel out...
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