Oil Long view - 26 October 2022

Long Term Analysis Oct 26, 2022

Crude Oil

54 month and potentially 9 year cycles are both falling with next trough expected Summer 2024 circa 50 -> secular downtrend still underway.

Monthly data going back to 1998 and the start of a 9 year cycle. Price is currently in the third 9 year cycle in the dataset and its status is down.  

Christopher Grafton CMT

Chris has been involved in the markets for 20 years. He is the author of Mastering Hurst Cycle Analysis and is an experienced working technician. Chris holds the CMT qualification.