Those who followed our daily updates for oil would have known that oil possibly developed a corrective structure and has fair chances to drop as early as next week.
The long term chart below was finalized over 3 months ago and no event would warrant a change so far.
Those who followed our big call on June 4, 2022 (just before the top), would have made about 35% on non-leveraged instruments by now.
In this weekly overview we will:
– evaluate technical indicators, candles, and recent events on various frames;
– analyze the perspectives for the yearly closure;
– discuss the long and mid term forecasts made with Elliott Waves.
Recently InvestingAngles introduced daily reports on oil and we plan to maintain them among our regular features. Are you with us?
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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Previous Oil Weekly Analysis – December 17th:
Natural Gas Weekly Analysis – December 24th:
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