NYMEX:CL1!   Light Crude Oil Futures
Global news can say whatever you want . It is not physical oil             . This are futures . and future's price is constituted by those who trade these futures - banks. There are 3 major traders in the market of oil             - JPMorgan , Goldman Sachs, Citi, in their turn they are getting money from the Federal Reserve System . And the Federal Reserve System has only two targets - to keep holding dollar as a the world's reserve currency and to make it stronger. That why in the first quarter of 2017 the oil             price will be 12
Continues rally
Elliott wave +fibonaci
Way to 12
So you think today was the top for a long long time and we go to 12 from here? Even in the middle of "freeze talks" and the SPY at all time highs, demand increasing, etc. and we go to 12?
EXCAVO tbuckle
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what do you mean by the use of 12? Did you mean 52?
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EXCAVO tbuckle
no i mean 12
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Oh I'm sorry. I totally miss understood what you were say. $12 oil did not occur to me. I thought it was a typo. Thank you for the clarification. So how would $12 oil help the FED? Wouldn't that bankrupt the banks, etc. and cause much turmoil? In any case you think we go to $55 first then $12?
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EXCAVO tbuckle
55 already touched, now going to 12
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EXCAVO tbuckle

All the oil in the world bought and sold for a dollar. I know three people who wanted to change it. Saddam Hussein, Muammar Gaddafi,Christophe de Margerie - all killed. in 2014 you have 100$ that you can buy one barrel of oil is now for the same $ 100 can buy a barrel of 2 , and you can even buy a coffee = ) but FRS just print money. And the Federal Reserve System has only two targets - to keep holding dollar as a the world's reserve currency and to make it stronger.
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When was $55 touched? Didn't really answer by question, but ok.
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Hi Excavo, I agree with you about OIL.But, according to Elliot Wave, 2-3 length should be the longest one, right? Also, have you thought about another possibility : 55-25 side wave after president election? Thanks
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