If oil enters Bear market: 2019 outlook
Based on the ascending-broadening wedge originating from Nov '17, and ASSUMING that the cycle is coming to an end...
If this scenario played out, we would see 56 become the target of a 6month downtrend. As is common in a bear market, you will see some significant spikes, followed by a longer period of selloff.
*This scenario also lends itself to completion and re-trace of the cup and handle formation stemming from Jan '16.
If this scenario played out, we would see 56 become the target of a 6month downtrend. As is common in a bear market, you will see some significant spikes, followed by a longer period of selloff.
*This scenario also lends itself to completion and re-trace of the cup and handle formation stemming from Jan '16.