Friday, March 17, 2017

02/17 Crude Oil Cycles #Oil

Crude Oil Cycles
A secular bottom in crude oil, one that sends long-term cycles to extreme concentrations, is still years away. While recent rally has awaken the commodity and economy bulls from their slumber, it must be treated as consolidation/profit-taking against the long-term down impulse.Maintaining a rally beyond the short-term in markets swapped by supply as the global economy weakens is unlikely.

There's no room for opinion here. Bulls ready to buy crude oil should be studying long-term cycle concentrations and the message of the market before acting.

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