By Poly

This is an excerpt from this week’s premium update from the The Financial Tap, which is dedicated to helping people learn to grow into successful investors by providing cycle research on multiple markets delivered twice weekly. Now offering monthly & quarterly subscriptions with 30 day refund. Promo code ZEN saves 10%.

The train wreck that is crude oil continues, now having become a fully-fledged crash with seemingly no end in sight. Not exactly an original idea at this point in the decline, but I was right this past weekend to sense continued weakness within Crude. That massive, one day reversal did show promise of Cycle Low, but it’s clear now that it was indeed only a one-shot wonder designed to drawn in eager, bottom hunting speculators.

My crude oil analysis for the immediate future is rather simple, mainly to not hold any expectations. This is an asset clearly in crash mode and therefore where it finds its eventual bottom is impossible to tell. As I’ve stated before, there are no clear Cycle Lows to base any opinions or position off, so Cycles are of no help too. And even if there was a clear marking, Crude is locked in the type of decline where no indicator or study should be used to predict a bottom. We just need to let this crash play out, despite record bearish sentiment and extreme oversold readings.

12-10 Crude Daily

 

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