THE END IS NEAR. WTI should build a bottom. Oil Rally in 2016?
After being strong short on oil since August 2014 (see the green arrow... YES, no kidding...), I am expecting the WTI to rock bottom right at or little under 30 $. Two more lows and then there should be a bottom formation, preferably an ending diagonale triangle. Alternative: If not, under 10 $ is on the table (but that I do not see).
So I am changing oil from strongest short to neutral. Not long until a signal developed. But changes are good, that THE END IS NEAR.
The painting in the charts are old, mostly over a year old. Only the last green ones are new. Feb. 2016 was a time target from beginning of 2015. Now I would think maybe three more month to go.
Keep you posted. Happy hunting.
So I am changing oil from strongest short to neutral. Not long until a signal developed. But changes are good, that THE END IS NEAR.
The painting in the charts are old, mostly over a year old. Only the last green ones are new. Feb. 2016 was a time target from beginning of 2015. Now I would think maybe three more month to go.
Keep you posted. Happy hunting.
