This is a pretty simple model based on a Gann Square and concentric circles and squares. Price over time tends to move up or down 2 circles, or energy levels, before moving in the opposite direction.
Since price made a low near the point marked 0, we should expect that the oil price will generally move higher until the circle marked 2.
The parabola drawn was inspired from several sources, including Martin Armstrong. Price moved down fairly strongly once the peak of the parabola was passed.
It is possible that price may meet resistance at the green 2x1 line. In addition, price often moves in the opposite direction when crossing a square, so it is possible that price could retrace somewhat with the red 39 degree angle line below it acting as potential support.
Depending on how strong and steep the upward climb of price is, oil could move generally higher into 2017 and as late as 2018.
Since price made a low near the point marked 0, we should expect that the oil price will generally move higher until the circle marked 2.
The parabola drawn was inspired from several sources, including Martin Armstrong. Price moved down fairly strongly once the peak of the parabola was passed.
It is possible that price may meet resistance at the green 2x1 line. In addition, price often moves in the opposite direction when crossing a square, so it is possible that price could retrace somewhat with the red 39 degree angle line below it acting as potential support.
Depending on how strong and steep the upward climb of price is, oil could move generally higher into 2017 and as late as 2018.