Just like the long term quarterly chart for the CRB index we looked at earlier the WTIC has a very similar pattern that goes all the way back to 1981 when the low in oil was 10.81. Note the massive double bottom which projected a move of 277% which was just a dollar or so off the all time high. I’ve often explained what a classic H&S top is. They start out with a rising wedge where the left shoulder and head form inside of the rising wedge with the right shoulder high forming close to the breakout point on the backtest to the bottom rail of the rising wedge. The short oil trade was our best performing leveraged trade during the 2020 crash.

I bet he didn’t know Oil would fulfill its target…. overnight !!!

10 dollar Oil…think about that !

Same price as it was in 1970s

What is the inflation adjusted price form the 70s ?

More like $2 a barrel

Almost Free

We have been talking about free energy for years….but who would of thunk it would come like THIS