Below is the crude oil forecast that we shared with our clients early last week.
And the following are the price levels for WTI crude oil for June 30th that we also shared with them at the same time.
In the prior newsletter that we shared with them two weeks ago (i.e. June 20th), we stated that “the May 5th low of $43.72 should be taken out any time now in oil’s journey lower for this bearish leg” and that “once the May 5th intraday low is taken out, the next key price target would be in the $42.19-42.21 area, followed by $40.63-40.66.“
On the same day that newsletter went out (i.e. June 20th), oil did take out the May 5th low exactly as forecasted and continued lower to hit the first key price target of around $42.21 the following day (i.e. June 21st). On that day, oil prices poked through the $42.21 level on an intraday basis but then quickly turned around and closed higher.
As the legendary W. D. Gann used to say “when price meets time, change becomes imminent” and that is exactly what we told our clients to expect to happen. Price ($42.21) had indeed met time (June 20th/21st) and therefore change had become imminent. As such, we told our clients that oil’s bearish leg was over and that they should expect a strong reversal to the upside through around June 30th.
Below are the charts showing how oil has accurately obeyed its forecast. The first one is the chart with the same forecast curves that you saw above but updated with the missing price bars as of today.
And here are the price levels that we shared with our clients today, also reflecting the latest price bars.
This example demonstrates the power of our unique forecasting methodology that combines forecasted behavior, price and time altogether to arrive at the most accurate and reliable forecasts in the market.
This is the exact same methodology that our clients receive the benefit of in our short-term trader’s premium newsletter. To sign up for a free 2-week trial, click here.