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Crude Oil Update

Updated: Nov 28, 2022

Nov 21st key level broken - Good chance we could be down into the 9th Dec for Low then up till the 15th Dec for a Minor Top . Initially I listed the 15th Dec as a possible low but the strongest outline is the Curve below so if we continue to drive down into the 9th Dec we could see a strong low on that date . Will update over the next few days .

Still holding above the 21st Nov Low however price has not moved up as quickly and as much as I initially expected - this is a very important point for several reasons which I will outline later . The page below is an outline of previous swings breaking down the time periods and price amplitude of each swing which will be compared against the current swing to determine the likely magnitude and time period of the move . The first swing ran down 162 days into the 19th Dec 2008 a decline of 78% - the second swing ran down 84 days into the 25th Dec 2018 for a decline of 45% and the current swing measured from the 14th June Top has thus far declined almost 40% into the 21st Nov Low a time period of 159 days which balances against the 2008 swing of 162 days running out close to the 15 Year or 180 month Cycle - you will also note the price amplitude or percentage declines between both swings are about balanced also . If we used the 2018 swing as a template and subtracted 44.9% from the current 123.68 top we would get a price of around 68.00 which is quite a fair way off the current price so it will be important to see if the 21st Nov Cycle Date holds in place .

If we do hold above the 21st Nov Low we should be up till the 15th Dec which is the first scenario or alternatively if this point is broken we should be down till the 15th Dec so holding above the 21st Nov is pivotal for higher prices so keep an eye on the next few sessions to determine if we are holding above the 75.08 point . This price zone is significant as 74.50 is 90 Deg from 123.68 Top and 180 Deg from the 93.74 Top so if we do move down through the 75.08 the next harmonic price zone is around 74.50 which we are currently holding above which could be a sign of strength . The fact we are running close to the 162 day time period peak to trough is also a good indication that low is in around current levels .

123.68 / 1.66 = 74.50

93.74 / 1.25 = 75.00

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