CRUDE OIL poised to go UP AGAIN?

Usually my posts on crude oil are short. but here’s a longer one for a change.

Back in December, I predicted that crude oil would hit the highlighted zone around $57. That’s exactly what happened, hit the target and bounced.

Over the past two weeks, we’ve seen wild swings in crude oil prices as tensions between Iran and Israel escalated. But now, following the ceasefire announcement brokered by President Trump, and considering Iran’s response over the past couple of days, crude oil has dropped below its pre-conflict price levels.

While I truly hope for a peaceful world where no innocent lives are harmed, my personal view is that this ceasefire feels fragile and may not last long.

So, what’s next for crude oil? Up or down?

If the ceasefire holds and we don’t see further conflict in the Middle East, I think crude oil could hover in the $65–$75 range. There’s even a slim chance we dip as low as $45.

However, based on my technical analysis model, and my doubts about the durability of the ceasefire, I expect oil prices to rise in the next 6 to 9 months. My targets? $78 and $85.

Of course, I might be wrong this time. :)

Cheers!