BradMatheny

Double Top In Crude Oil - Are You Ready For The Move Below $75?

Short
NYMEX:CL1!   Light Crude Oil Futures
Don't fool yourself with the idea that Crude Oil will continue to climb higher. The world is in a contractionary phase and Winter/COVID issues continue to plague demand.

Crude Oil will slide downward as demand weakens into 2023.

I expect $75 to $76 as a base level near the end of 2022. Then, possibly falling toward the $61 price level.

Follow my research.


Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.