We just updated our Crude Light Futures (CL) forecast…….
Thus far, our CL forecasts have been dead on accurate. I remember how in June of 2022, when we looked at Crude Light for the first time, we confirmed earlier top at $130 and suggested at the time that CL would go much lower, as low as $66 +/-, before it bounces again.
I remember a big money manager contacting me at the time and suggesting I check into a mental institution. If you would recall, at the time everyone thought oil would go to $150, $200, etc…..
Now the situation is much more interesting. As the chart above suggests, an important bottom might be in. And right at the above mentioned target.
If oil remains at today’s levels, geopolitical situation will remain stable. However, if oil is scheduled to rally, as the chart above suggests, we might be in for a big war. The Russian bear has been pocked, stabbed and kicked. To say the bear is in rage would be an understatement.
So, which way will it break?
If you would like to find out what oil will do next, in both price and time, please Click Here