WTI Oil: Ranged for the next 2 years.

TVC:USOIL   CFDs on WTI Crude Oil
We have been focusing a lot on Oil's short term price fluctuations under a highly unstable environment. This High Volatility may be simply technically caused by the commodity's long term cycles, phases that tend to repeat over time.

As you see on the chart the price is currently within a long term consolidation phase, similarly to what it did from mid 2011 to mid 2014. There are high chances of repeating and completing this phase again. The fact that the monthly chart remains neutral ( RSI = 45.100, ADX = 18.497, MACD = 0.310, Highs/Lows = -0.7850) generally supports this idea that there is no trend at the moment on the long run.

This is an idea we brought forward almost 1 year ago, of course with some deviations to the actual price action:

The purpose of this is to give an idea to long term traders where they can buy, hold and eventually take profit over the next 2 years.

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Comments and likes are greatly appreciated.
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I have same view check my analysis

+1 Reply
InvestingScope DaweFXHunter
@DaweFXHunter, Not exactly the same but thank you for taking the effort to share it with us.
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