AdrianRaymondFX

Timing the next buy opportunity on oil markets

Long
I've seen a lot of people looking at oil's long-term trendline for a speculative buy opportunity this past couple of weeks. While oil prices should remain relatively low as markets work to establish a demand-supply equilibrium in 2015, I agree with the hypothesis of at least a technical bounce once WTI and Brent prices test their trendlines (around $47 for WTI and $53/54 for Brent). To complement all those excellent charts shared by others on this site, I'd simply like to point out the long-term support on the Oil / Gold ratio. It seems like WTI will test it's trend-line when this ratio hits its 1993/1998/2009 lows.