Light Crude Oil: Long Term Chart
Igor Rakhmanov | Jan 05, 2014 01:16AM ET
This is the long horizon 4x2 P&F chart of Light Crude Oil, the third chart from a series of the long-term charts of different asset classes with projected price targets.
Oil has been traded in the 76-112 range over the past three years. I think, a breakout from this trading range will help in calculating the potential price objective. Meantime, the horizontal counts from the top and bottom of 2011 point to the upside target of 124 and the downside target of 64.
Disclaimer: I express only my personal opinion on the market and do not provide any trading or financial advice (see Disclaimer on my site).
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