Oil Collapse? - SELL
Updated
BCOUSD looks like oil is about to collapse.Is there more oil than known?
or
Is technological change accelerating the world away from oil?
If S1 and S2 fail, look for new lows.
Target: $56 -$44
Will update.
-AB
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FB & Oil Correlation is striking...Note
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Wave 3 went less than Fibonacci Ext. Level 1 of Wave 1 & 2And
Wave 5 went less than Fibonacci Ext. Level .382 of Wave 3 & 4
Does this indicate a failed wave sequence?
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Nothing has changed in the charts to warrant a change in analysis...Note
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$61.79 is Critical SupportNote
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Support is breaking...Note
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Next Support level is $45.00...Note
If $45.00 breaks expect to see new lows...Note
Oil is in fact collapsing... Artificial price controls being removed....
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The Death Spiral...Note
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Oil is going to make new lows...Brief support around $45.00...
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Sub $28.00 oil in 2020...Note
Amazing Chart...Note
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Near-Term Target = $50-$46Trade closed: target reached
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