🛢 CRUDE – 14th week of the base cycle (28 weeks), a very mature Phase 1. The March 3 extreme forecast reversed a 2-day correction into a new bearish wave, pushing below the broken and eroded support level. This scenario was anticipated two weeks ago.
Price range from the March 3 extreme forecast to the current move: $2K per contract.
Based on timing (14 weeks) and chart structure, Phase 2 may have begun.
⚠️ Bearish outlook remains, as outlined in my summer 2024 crude oil post.
Next extreme forecast: March 19, aligning with retrograde Mercury on March 17.
Price range from the March 3 extreme forecast to the current move: $2K per contract.
Based on timing (14 weeks) and chart structure, Phase 2 may have begun.
⚠️ Bearish outlook remains, as outlined in my summer 2024 crude oil post.
Next extreme forecast: March 19, aligning with retrograde Mercury on March 17.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.