 |
| Crude
Oil lost 67% since it broke down from the triangle (B) in June 2014.
Seasonally Crude Oil is at a low in December-January, and the 4 Lunar Month Cycle is pointing to a low on Dec 20 (Sun). Next week a test of the December 2009 low (A) at USD 32.40 is likely before the countertrend kicks in to send prices up to USD 45+ again. If (C) would have the magnitude of (A), it would send Crude Oil down to USD -4.19. Though a collapse down to the lows of 1986 and 1998 around USD 10 is technically possible, the 0.886 Fib-retracement level at USD 25.37 looks like a solid support for a major low in 2017-2018. See also HERE |