Guess airlines are buying tankers now. USOIL will be forced back into its channel overshooting $45 a barrel and perhaps quickly back to $70 pulling back from $80.
Then another jump to $100, ready to retrace 2014 and as hyperinflation develops hit $160 by Sep 2021. Followed by a replay of July 2008, deep recession..
Then another jump to $100, ready to retrace 2014 and as hyperinflation develops hit $160 by Sep 2021. Followed by a replay of July 2008, deep recession..
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Sep '22 back to $100 ..
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You can't ignore the monthly hammer forming..
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Yup, still on track..
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Expecting big leg up shortly
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Something in the making
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On 1D
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Pump that Oil
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We have another go!
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Added alternative PA path based on PA momentum of the past weeks. It targets $160 by December '22.
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It seems to slow down to break $45
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The diagonal trend is the alternative price action path extended on the monthly into the following years.
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Trendline resistance similar to 2002/2003 with SARS, which eventually lead to the housing bubble in 2008..
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Oil continues to follow trend with target $160 by Sep'21
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Angle towards target prevails (big arrow). New Divergence set in as visualised by trendline with original target angle (small arrow). Indicating target may be reached earlier or a correction for recent delays is being made here imho.
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Date time adjustment following USD bull perma rig disassembly
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On track nevertheless, call me crazy..
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Zoomed in at 4H
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65 before we head back up to 160?
