Crude oil price projections: will oil prices stabilize or continue dropping
Crude oil price projections: Breakout or Breakdown
In a recent article, we stated that from a fundamental perspective, there were no reasons for oil to mount a significant rally in 2016. We noted that the world was awash with oil and that the Peak Oil theory artists had just pulled another con over the unsuspecting masses. x]
There is no such thing as peak oil the only thing that we would all embrace would be peak B.S., but that will never happen in our lifetimes as the number of B.S. artists continues to soar with the passage of each year. Hence the saying “tell me sweet lies”; people prefer to hear sweet lies than deal with the truth, which in most cases is not glamorous and tends to smack you in the face rather than massage your rear. Let’s look at the projected path for oil in 2016. 
Oil has dipped below 30; if it closes below 30 on a monthly basis, then the above outlook will change. The current pattern calls for oil to trade in the 30-42 ranges and slowly build up force to test the 55 ranges. However, a monthly close below 30 will change the outlook. Oil will then be constrained to a band that ranges from $23-$36, with a possible move to the 44 range before dipping back to the 36 ranges. When a market has pulled back so drastically, it needs to establish a stable channel formation; a proper channel formation serves as the launching pad for much higher prices.
[color-box color=”green”]The peak oil story is total rubbish. You can see with your own eyes, how utterly idiotic this hypothesis is. Do some digging around and you will find many articles confirming the view that peak oil is total rubbish. If you have a chemistry background or biology, you will realise of the bat that oil is not a fossil fuel. It has nothing to do with fossils whatsoever.However, that is a story for another day. Here are two links that can shed more light on this topic [/color-box]
Video illustrating Peak Oil is a Con
Other articles of Interest:
Investors worried about a stock market crash 2016 (Jan 21)
Is VIX pointing to a Stock Market Crash in 2016 (Jan 20)
Oil crash: Is the price of crude heading lower in 2016 (Jan 20)
6 Rules to making money in the Markets Using Mass Psychology (Jan 20)
The U.S Economy in Crisis: Obama’s illusory economic recovery (Jan 19)
The Dow Jones Industrials & the economic recovery that never was (Jan 18)
