ChartArt
Short

Maximum bear scenario for Crude Oil until 2017 is $25 per barrel

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
1007 3 10
Here is how low the price of oil             can fall until it finally reaches rock bottom (old historic very strong demand areas). I'm not a fan of shorting at a potential bottom. But Iran will flood the market with much more oil             in the future. Which will decrease oil             prices even more and hit all of those who started building up storage at prices around $50. And this failure of the bounce to hold above $47.5 looks really bearish , in addition with the rejection of the 200 month simple moving average trend and the long-term trend line break to the downside. I think the price will bounce strongly around $39-$40 though.

Short entry: (ideally 47-48)
Stop Loss: $51
1. Target: $40
2. Target: $25

P.S. Inflation adjusted prices calculated with this tool:
http://www.usinflationcalculator.com/
ChartArt
a year ago
There are analysts who even see oil prices as low as $10 in the future:

Gary Shilling
(16.02.2015) http://www.bloombergview.com/articles/2015-02-16/oil-prices-likely-to-fall-as-supplies-rise-demand-falls
(09.03.2015) http://www.bloomberg.com/news/videos/2015-03-09/getting-ready-to-see-next-leg-down-on-oil-shilling
(13.07.2015) http://www.bloomberg.com/news/videos/2015-07-13/iran-supply-pushes-oil-to-10-20-per-barrel-shilling

David Kotok
(17.08.2015) http://www.bloomberg.com/news/videos/2015-08-17/could-lower-for-longer-oil-mean-12-per-barrel-
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Very very nice work with this chart
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ChartArt LachlanGorman
9 months ago
Thank you!
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