Oil Update September 17th, 2010

Posted: September 18th, 2010 under Commodities, Misc/Admin, Past Market Analysis, Predictions.
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Our last oil post showed a turn date for Sept. 13th which turned out to mark a turn lower. In fact the oil price could easily break down from here and lead other markets lower as economic weakness and deflation start to gain hold. There are no further turn dates showing for the next 10 trading days. I have chosen spiral grids running forwards from the February 19th, 2009 low (red grid) and the subsequent low on April 21st, 2009 (blue grid). As you can see the recent turn lower is aligned F14 – 2 days from the February 19, 2009 low.

Oil – USO – Spiral Calendar Chart Sept 17th 2010

Oil - USO - Sept 13th Turn Is Spiral Calendar F14 From The February 2009 Low

Oil – USO – Sept 13th Turn Is Spiral Calendar F14 From The February 2009 Low – click to enlarge

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