Im not into making predictions just for the fun of it or cos i have a stack of crystal balls in my living room.. 
I specialise in trading crude intraday revesals n pullbacks off big spikes,
so the yearly picture of crude doesnt really affect my trade decisions that much.
But i do now think with about 96% certainty that we have see the bottom in crude, and over the next few months even though its not gna shoot or float back up in straight line,
there will be more strength on the buying at the lows of ranges than there will be in the selling at the top of them.
(Market will very likely just range between 39 t 54 for the next few months,
hopefully with lots of big violent intraday spikes and moves though ).
The reason why i think its extremely likely that we have now seen the bottom in oil is based on the following-
*$39.26 is the biggest most important key pivot level.
Market goes under there and cant break back above then it goes and targets the low 30s like it did over last few weeks.
But 2days ago when that level held oil bounced from there to the mid $44s!
(no fundamentals or news out, dow wasnt doing much, dollar wasnt doing much, but there was tring buying at that level).
*Yesterday it dipped down to the 40.86 level (the support level 2places above 39.26), but that held and it again bounced up very sharly to the high 44s n even 45s.
(while dolalr was getting stronger and dow was barely above 8000)
*Today we got the inventory numbers, build of over 6million for oil n gasoline, when only 1,5s was expected.
(lastime 2weeks ago we got 6million it dropped market over $8s that day, and about 6dollars more over the next 2days alos just based on that).
Yet today we got that, i couldn't even manage a drop on $2 dollars after the number came out, and then at 40.86 again there was alot of extremely strong vicious bying going on!
It recovered those 2dollars in just 3 up-spike movements, and then went on to rise a further $2s.
(so 8% rise in just a few hours, even when the dow was now down over 200points under 8000 and the dollar was very strong, and when there was 6million build agaisnt 1.5expected as the news for the day).
This is all extremely bullish now, and so on the days when the dow gets stronger and rallies, and the dollar starts its pullback due to all the inflation that is gna be caused by all that money being printed its gna be very tough for anyone whos holding a sell trade when the upmove for that day starts...
*Charts explain alot better than words though, and so i will post a couple of charts to help show
I specialise in trading crude intraday revesals n pullbacks off big spikes,
so the yearly picture of crude doesnt really affect my trade decisions that much.
But i do now think with about 96% certainty that we have see the bottom in crude, and over the next few months even though its not gna shoot or float back up in straight line,
there will be more strength on the buying at the lows of ranges than there will be in the selling at the top of them.
(Market will very likely just range between 39 t 54 for the next few months,
hopefully with lots of big violent intraday spikes and moves though
).The reason why i think its extremely likely that we have now seen the bottom in oil is based on the following-
*$39.26 is the biggest most important key pivot level.
Market goes under there and cant break back above then it goes and targets the low 30s like it did over last few weeks.
But 2days ago when that level held oil bounced from there to the mid $44s!
(no fundamentals or news out, dow wasnt doing much, dollar wasnt doing much, but there was tring buying at that level).
*Yesterday it dipped down to the 40.86 level (the support level 2places above 39.26), but that held and it again bounced up very sharly to the high 44s n even 45s.
(while dolalr was getting stronger and dow was barely above 8000)
*Today we got the inventory numbers, build of over 6million for oil n gasoline, when only 1,5s was expected.
(lastime 2weeks ago we got 6million it dropped market over $8s that day, and about 6dollars more over the next 2days alos just based on that).
Yet today we got that, i couldn't even manage a drop on $2 dollars after the number came out, and then at 40.86 again there was alot of extremely strong vicious bying going on!
It recovered those 2dollars in just 3 up-spike movements, and then went on to rise a further $2s.
(so 8% rise in just a few hours, even when the dow was now down over 200points under 8000 and the dollar was very strong, and when there was 6million build agaisnt 1.5expected as the news for the day).
This is all extremely bullish now, and so on the days when the dow gets stronger and rallies, and the dollar starts its pullback due to all the inflation that is gna be caused by all that money being printed its gna be very tough for anyone whos holding a sell trade when the upmove for that day starts...
*Charts explain alot better than words though, and so i will post a couple of charts to help show
