This week oil registered a bearish event that opened a path for much lower prices. Now we have several reasons to support the hypothesis and also to project the perspective targets.
Our subscribers enjoyed the big bear call on gold in March…
Those subscribed to our service since 2021 have benefited from this Bitcoin call in November…
A few loyal, very long term customers knew that GDX miner was not a healthy investment since November 2020…
The list goes on an on.
In the middle of August I outlined that OIL “…is technically in the same conditions as in August 2008. Believe it or not, but the commodity is likely to go down. Swiftly.”
In this overview I will traditionally discuss the candle formations on various time frames, evaluate the corresponding technical events and provide the short- and long-term forecasts using Elliott Waves.
This post is part of the @InvestingAngles Series that covers the US and global major indices; commodities and miners, bonds and volatility, crypto and currencies, and some large cap stocks.
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