Crude oil to $20

If this chart is correct oil is headed to the $20 level sometime in the next year. The ramifications for credit market and geopolitical environment especially Russia would be huge.

Crude Oil Futures weekly

cl-weekly-doomed

Russia

For Putin Regime to hold power after losing -15% of it’s GDP some foreign military entanglements would most probably be the distraction of choice. Lots are jumping into Russian market ETF’s now to ride the current wave of Putin worship among those with short memories or too young to remember how the last time this all played out.

Here is what Putin did last time he needed a foreign conflict to consolidate public opinion:

 

 

 

 

2017 is shaping up to be anything but boring..

The best charting teacher I know:
The Morning Analysis Service by Paul Coghlan
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1 comment

  1. Jan Argent   •  

    It has to go to at least $10/barrel to compete with solar these days. Agree it has not much going for it

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