Reviewing an Oil call from 12 months ago

In this post from June 28, 2021 (one year ago), I called a high in Brent Crude Oil.

It was real close.

The post then called for a shakeout. Well, it wasn’t quite that but it did fall 15% as the Oversold circles show in the chart below.

Lo and behold, Brent Crude Oil did trade up to $120 – $140 region as predicted

In fact, the high was $138 per barrel.

Now, I watch whether it breaks an important support line around the $108.50 mark.

June 30, 2022

by Rob Zdravevski

rob@karriasset.com.au