https://thegoldandoilguy.com/wp-content/uploads/2019/09/0.png 470 850 admin http://www.thegoldandoilguy.com/wp-content/uploads/2014/11/tgaoglogo.png admin2019-09-06 13:04:032019-09-06 13:04:03Can Oil Stay Above $50 To Support Producers Expectations?
Can Oil Stay Above $50 To Support Producers Expectations?
Recent news suggests that oil producers are attempting to increase production levels after failing to attempt to push prices higher by cutting production levels. Globally, oil producers want to see oil prices rise above $65 ppb in an effort to support profit and production cost expectations. The real issue for the nation/states that rely on oil production/sales is that the global economy may not cooperate with their expectations over the next 24+ months. Before we get into the details, be sure to opt-in to my Free Market Forecast and Trade Ideas Newsletter so stay on top of these market moves. On August 6th, 2019, we posted this article suggesting that Natural Gas and Crude Oil were setting up diverging trades. August 6th, 2019: NATURAL GAS AND CRUDE OIL – DIVERGING SETUPS FOR TECHNICAL TRADERS At that time, we wrote that we expected Crude oil to break lower from the $62 ppb level and target $55, then $49 based on our original Crude Oil research from May 21, 2019. Additionally, on July 29, 2019, we authored and posted this article suggesting that Crude Oil would begin a downside move from $55 to levels near $50 : All of this research was related to our Adaptive Dynamic Learning (ADL) research post from July 10, 2019: https://www.thetechnicaltraders.com/predictive-modeling-suggest-oil-headed-much-lower-by-early-2020/ This incredible predictive modeling research suggested that Oil would move dramatically lower towards the $50 level, then stall near $50 to $55+ through September and October. Ultimately breaking lower in late October/November to levels near or below $40.