Sunday, February 14, 2016

Crude Oil in for a significant reversal? Maybe, the charts are forecasting a BIG Middle Eastern War centered on Syria. That could push up prices.

I don't like predictions like this, but in the face of the massive oversupply of crude, I can't think of any other FUNDAMENTAL reason for a major reversal in Crude Oil prices.
First chart, a trendline contact, the second chart, the 1.000 node reached. That's a clear formula for a reversal. This chart has some temporal authority, as it's sourced all the way back to 12/28/1998.

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