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In late June I posted an article here explaining that Crude Oil was in an unsustainable parabolic spike. Then, on July 15th I had a short-term sell signal that immediately evolved into a sell signal of intermediate degree. The question now is whether or not this intermediate-term sell signal further evolves into marking an even longer-term top, or if it is a mere correction in the path of an even longer-term advance. Monitoring the Cycle Turn Indicator at the various levels will be key at answering this question. Below is a long-term chart of crude oil showing the 1,322 percent advance that occurred from the 1998 low, at 10.35, into the recent high at 147.27. Since the July 11th high, crude oil dropped 23.77 into the most recent low. This decline in and of itself does not necessarily mean that crude oil has also made a... [read full story]
