Crude oil - What's in store for 2023?

The price of crude oil has declined significantly since June. Will the downward trend continue in 2023 or will the price rise again? This is the question I am addressing with a cycle analysis. Two cycles seem to be dominant at the moment, 992 days and 43 months. According to the composite line, we are on the way to a cyclical low on 20.04.2023. Subsequently, the forecast gives us plenty of room to the upside. Please note that the cycle line cannot make any statements about the absolute level of the price. It only marks the periods with possibly falling or rising prices.

In summary: The cycles point to further weak prices until April, after which a more bullish phase could begin.



Comments

Post a Comment

Popular posts from this blog

Ethereum - What can we expect next?

Image
  Cycle Forecast for Ethereum  After analyzing Bitcoin, I would now like to look at the cycles in Ethereum  . The 672 day cycle and annual cycle have been good at predicting price action in the recent past. According to the cycle, we should be in a phase of rising prices. However, the current price trend cannot keep up. What can we do? Investors who are betting on rising prices should be on the lookout for buy signals. If Ethereum then rises again, there is a possibility that the rally will continue until February 2023 based on the cycle analysis.
Read more

Tesla (TSLA) Forecast, Cycles and Seasonality

Image
 Cycle Forecast for TSLA This is the weekly chart for TSLA. The cycles used are 330 days and 150 days. They are a good representation of the recent past. They show us a buying opportunity for the end of 2022. There are further buying options in April 2023. Seasonal Chart for TSLA We can see the seasonal progression of TSLA in the image. However, the price hardly followed the seasonal pattern in the past. In the table we can see that in most cases the correlation was even negative.
Read more

3M -What will happen in 2023?

Image
Today, I would like to venture a 2023 outlook for 3M. In the weekly chart I could identify 3 active cycles, 41 months, 247 days and 102 days. At the beginning of the year, I see a buying opportunity at the cyclical low. The rally could last until the end of February. Then we move towards another intermediate cyclical low mid-Julie, buying opportunities may arise here as well. At the end of July, we see another major low, which could lead to a price rally.
Read more