Oil is heading to the 50 dollar mark by April/May 2019
The rally that is coming ahead in crude oil will be the last chance for longs to liquidate their positions.
This market is in some serious trouble.
I put everything together in this chart (cycles , macd , RSI , squeeze etc) .
Crude has been making new all time highs along with cycles , however the macd and the rsi keep weakening.
Once the macd crosses the 0 line its game over for crude.
I am afraid the rally that is coming ahead in crude will be minimal ( it won't last too long ) and it won't exceed the 72.90 mark .
I will be surprised if we see all time highs in this rally in crude.
Hence , we are creating a topping pattern which is in my opinion it will be a great short opportunity which will continue till next year. The real bottom will be somewhere around April/may 2019 .
I can't wait for the next 2-3 weeks to see what can crude do with these rising phase cycles and if I notice any weakness and that it can't hold the 72.90 and pulls back then I will short it.
I will post updates here if and when I short it. But I am looking at it very closely .
This market is in some serious trouble.
I put everything together in this chart (cycles , macd , RSI , squeeze etc) .
Crude has been making new all time highs along with cycles , however the macd and the rsi keep weakening.
Once the macd crosses the 0 line its game over for crude.
I am afraid the rally that is coming ahead in crude will be minimal ( it won't last too long ) and it won't exceed the 72.90 mark .
I will be surprised if we see all time highs in this rally in crude.
Hence , we are creating a topping pattern which is in my opinion it will be a great short opportunity which will continue till next year. The real bottom will be somewhere around April/may 2019 .
I can't wait for the next 2-3 weeks to see what can crude do with these rising phase cycles and if I notice any weakness and that it can't hold the 72.90 and pulls back then I will short it.
I will post updates here if and when I short it. But I am looking at it very closely .