Imagine for a moment that you have been living in a silent room for decades and suddenly you hear a deafening crack that splinters the walls. That is exactly what the NYMEX crude oil monthly chart is screaming at us. For years we grew accustomed to a world of relatively cheap energy but that dream is about to become a nightmare for the unsuspecting.
If you look closely you will see that the market has been locked in a gigantic sideways cage since approximately 2004. It is a massive consolidation zone that has contained price fury between $40 and $120. But giants do not sleep forever and the pressure built up over these twenty-plus years is seeking a desperate breakout to the upside.
What should make you tremble is not just the current breakout but the technical target projected on the horizon. That vertical blue line you see on the chart is not a drawing error; it is an arrow pointing directly at the heart of the global economy. We are talking about a projection that places oil at $400 per barrel. Yes you read that right. The pink box extending into the future represents an unknown and hostile territory where cheap fuel will be a memory in history books.
Indicators at the bottom such as the RSI show that momentum is waking up from historic floor levels and preparing for a wild run. The green hands appearing at the end of the time series are the final warning: the time for complacency is over and we are on the doorstep of an era shift where energy will dictate who survives and who is left behind.
Get ready because the chart does not lie and the roar of crude is only just beginning to be heard.
If you look closely you will see that the market has been locked in a gigantic sideways cage since approximately 2004. It is a massive consolidation zone that has contained price fury between $40 and $120. But giants do not sleep forever and the pressure built up over these twenty-plus years is seeking a desperate breakout to the upside.
What should make you tremble is not just the current breakout but the technical target projected on the horizon. That vertical blue line you see on the chart is not a drawing error; it is an arrow pointing directly at the heart of the global economy. We are talking about a projection that places oil at $400 per barrel. Yes you read that right. The pink box extending into the future represents an unknown and hostile territory where cheap fuel will be a memory in history books.
Indicators at the bottom such as the RSI show that momentum is waking up from historic floor levels and preparing for a wild run. The green hands appearing at the end of the time series are the final warning: the time for complacency is over and we are on the doorstep of an era shift where energy will dictate who survives and who is left behind.
Get ready because the chart does not lie and the roar of crude is only just beginning to be heard.
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La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.