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Crude Oil About To Decline 50% Following Triple Top

ByChris Kimble
Published 03/19/2021, 10:45 AM
Updated 07/09/2023, 06:31 AM

Long-Term Crude Oil Monthly Chart.

Is the stage set for crude oil to experience a decline of at least 50%? It's possible.

This chart looks at crude oil on a monthly basis over the past 20 years.

Crude oil created a triple top over a two-year period (2012 -2014), then selling pressure drove it down nearly 70% in the next two years.

Crude oil could be creating another triple top over the past  two years.

So far this month, crude looks to be attempting to create a bearish reversal pattern. The month is far from complete at this time. Where crude oil ends the month, could send a very important message from this key commodity.

If support breaks at (1), look for selling pressure to push crude oil lower.

Latest comments

Triple tops not comparable, so don't agree.
You have it backwards i think.
I think if you do drugs these types of thesis happens
I disagree, the political climate is in favor of foreign oil and our dependence on it.
With the US production coming back as the rig count climbs, and OPEC knowing peak oil is behind us, it is plausible for the spigots to blast wide open, while demand continues to lag from the weight of covid still hampering global economic activity.
Hello there
Site hes for real , oil just move from negative $40 to $65, why cant it go back to $30 ?
I think theres a good chance of a major correction , with the price at $59.00, shale is making money and production will ramp up in united states
And demand will be week
Is this guy for real?
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