The trend-lines and divergence a exit between now and January 20.
The previous divergence from 10-27 to 12-11 indicates a slow reversal starting on 12-11.
The new divergence from 12-08 to 1-13 indicates a new trend starting on 1-20.
Major News to consider:
- Iran sanctions lifting, allowing 200K to 1000K barrels oil/day into the market.
- Folding of 60+ exploratory projects by US petroleum companies.
- Defaulting micro-cap and small-cap oil companies.
- OPEC tension, Saudia Arabia tension and austerity.