24/02/2013

The OIL triangle. Where will the price target be when it breaks out of this triangle.

OIL US  monthly now

Oil is trading in a big triangle. The price will increase or decrease dramatically  from the point where oil breaks this triangle with at least 40. For instance if oil breaks on downside in late December it will fall to 43 at least. A break on upside at that time will take the price to 144, close to current all time high. My own personal view right now is that it will come on downside because of the new car fuel GAS explosive growth.

No comments:

Post a comment