Crude to $70?
Am I completely out of my mind now?
Well, some think yes...and me sometimes too when I do my TA.
So what is this chart analysis trying to tell us here?
Let's start with the white pitchfork:
The white pitchfork on this chart projects a higher price in CL within it's boundaries. And there is also the dashed line, which we Forkers call the ...
Crude oil's price movement over the past year has been nothing short of absurd. In terms of logical thinking, there is nothing sound about it. How does an asset price discover a negative future value, only to skyrocket in an unhindered fashion to the upper part of its price history in under a year?
See? There's no sound logic. I know, it's manipulated, and yes, I...
Last week saw crude prices weaken much further. This was a double whammy from the COVID-19 going viral globally as well as the imminent oil producer spat, particularly between Middle Eastern producers and Russian producers. That was just the cake... the cherry is in the form of a PRICE WAR, and one that has just been declared! According to Bloomberg, the Saudis...
I don't publish much anymore, but since a cycle is due, this is my play for this upcoming cycle.. 80% of my profits have been trading on sine & time cycle dates, using fibs levels and channels to predict and confirm directional change in trend.
Using the cycle dates, which show dwn till June 22nd, up til 30th :dwn till July 10th. Will cover shorts on any channel...
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Whether you believe in cycles or not.
Whether you believe in manipulation or not..
Whether you believe in Santa Claus or not.....
OPEC News and Events that moved oil , and the trajectories that followed.
More recent channel trajectories.
