jonasopdahl

Brent Oil Following 1997-2000 Pattern?

Long
FX:UKOIL   CFDs on Crude Oil (Brent)
533 views
4
One reason to be long oil throughout 2016.

These types of "events" will always differ from each other when looking at time, price and volatility . But the main thing to keep an eye on is structure.

Although this is purely speculative it is interesting nevertheless to see how the similarities in structure caught on as early as late 2014.

Fundamentally it's difficult to say if this analog will continue to play out but there's no reason to doubt it now after following the (almost) same pattern for two years.

$70 pr barrel brent oil this summer? I will come back to this once in a while to see how it has played out.
Comment: It looks like Tradingview didn't want to keep the overlay in the interactive chart. Picture chart posted below.

Comments

Mirror touchdown on 17$
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I'm not sure what you mean.
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Vladei jonasopdahl
This is
+1 Reply
Vladei Vladei
Your 70$ is unreal
Reply
Revisiting $70 is not unreal. Staying above $70 for a long period, however, is unrealistic. And there's a reason why oil is in the mid 40s at this moment. If the flipped 2000-2008 chart was "correct", oil should be at $24 right now. Time will tell.
+1 Reply
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