Where is Crude Oil Heading According to STOPD?

By Lawrence

Following is the weekly crude oil chart with STOPD levels marked.

1. The importance of year 2012 – it is an inside year and historically for most commodities, you get 2x its range once you get a clean breakout. This is straight of out STOPD

2. Red down arrow marks the False Breakout on the yearly range of 2012. This points to a drop back down to previous year close and midpoint. This is also straight out of STOPD. The downside target was tagged by end of year 2013.

3. As 2012 year high was never challenged, with a breakdown below 2013 year low and then 2012 year low (the yellow zone at the right side), crude oil is heading towards the STOPD target around $44 (the red zone at the right side).

Share

Comments
  • Minty415 December 19, 2014 at 5:54 pm

    Very nice visual. Thanks

  • smilingsynic February 13, 2015 at 9:05 pm

    Looking bad, good call. Very good call.

  • You must be logged in to comment. Log in