As world economy is slowing down, entering into recession, oil supply increasing (in particular from US) and new sustainable energy substituting oil, the OIL Era is ending. This MT USOIL chart tries to reflect these fundamental factors.
Clearly the 5 waves in the chart are not straightforward. Each wave may fold into 5 waves too in shorter TF (i.e., daily, H4).
I will also post a daily chart. Any comments are welcome!
Clearly the 5 waves in the chart are not straightforward. Each wave may fold into 5 waves too in shorter TF (i.e., daily, H4).
I will also post a daily chart. Any comments are welcome!
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