Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
TSLA, LRCX, TSMC Stock Earnings and Trend Analysis - 26th Nov 23
A Golden Setup: Gold Price Trend Forecast Report - 26th Nov 23
Gold Stocks Winter Seasonal Rally - 26th Nov 23
Elections in South America and Europe Reveal Backlash against Socialism - 26th Nov 23
LMT, JNJ and ASML Stock Earnings and Trend Analysis - 23rd Nov 23
When AI Hallucinates - Top AI Tech Stocks - 23rd Nov 23
Stock Market Ignoring Hawkish Fed - 23rd Nov 23
Stock Market Trend Trajectory into Year End 2023 - 22nd Nov 23
Copper/Gold Ratio: Still Counter-Cyclical - 22nd Nov 23
Learn to Use the FORCE! - How to Really Get Rich - 21st Nov 23
Quad Witching Cracks Stock Market Nuts - 18th Nov 23
Biden Bizarrely Brags About Lower Budget Deficits as US Federal Debt Skyrockets - 18th Nov 23
Silver Price Between a Rock and a Hard Place - 18th Nov 23
The Most Important Chat GPT Tech Reveal of 2023 - 18th Nov 23
AI Tech Stocks Portfolio - 9th Nov 23
Micron MU Stock Trend Analysis - 9th Nov 23
TSMC Stock Trend Analysis - 9th Nov 23
NVIDIA Stock Trend Analysis - 9th Nov 23
The “new ChatGPT” just launched - 9th Nov 23
Stock Market SP500 Trend Expectations - 8th Nov 23
Stock Market SPX Bounce Underway, but Resistance Upcoming - 8th Nov 23
Stock Market Investing - Aren't We Here To Make Money? - 8th Nov 23
Gold, Silver, Precious Metals Slide Re-starts - 8th Nov 23
AI Rules Everything! A.R.E.A.M. - 8th Nov 23
Stock Market Seasonal and Presidential Cycle Analysis, Bitcoin Final Warning! - 5th Nov 23

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Crude Oil Price Trend Forecast 2018 Current State

Commodities / Crude Oil Oct 01, 2018 - 06:20 PM GMT

By: Nadeem_Walayat

Commodities

Here is an update to my crude oil price trend forecast for 2018.

Firstly a recap of my forecast for the crude oil price for 2018 which since the start of this year has been for the oil price to target a trend to $80.


Crude Oil Forecast 2018

01 Jan 2018 - Crude Oil Achieves $60 Forecast Expectations for 2017, $80 Next?

Oil is clearly in a bull market and thus I expect the bullish trend to continue and would not be surprised if we see crude oil break above $80 during the year!

My update of late February reaffirmed the $80 target despite the then deep 15% drop.

27 Feb 2018 - Crude Oil Price Trend Forecast for March 2018

CONCLUSION

Therefore the crude oil price appears likely to remain within a trading range for the next month or so with-in the high of $67 and a low of $58. Thus given that the oil price is currently at $64 is near resistant then the oil price should soon reverse lower to target $58 which is likely to be the trend for most of March 2018 before the next assault on the high as my longer term 2018 forecast for a $80 crude oil price remains in tact.

Whilst my last look at the crude oil price on 20th April again confirmed my expectations for crude oil to hit $80 between August and September 2018.

Crude Oil Price Trend Forecast - Saudi Arabia $80 ARAMCO Stock IPO Target

Crude Oil Price Trend Forecast - Saudi's Want $100 for ARAMCO Stock IPO

FORECAST CONCLUSION

The crude oil price appears likely to remain within a trading range for the next month or so within the high of $69 and a low of $61. Whilst my 2018 forecast for a target high of $80 remains intact and which now looks set to be achieved between late August and early September. So I don't expect the Saudi's to get their $100 crude oil price to dump ARAMCO IPO stock on the market this year. Still if the Saudi's time it right they could sell ARAMCO stock whilst the crude oil price is trading near $80.

So here we stand at the end of September with the crude oil price trading at $73 off of its recent high of $76, within touching distance of my $80 forecast target for 2018.

Charts courtesy of https://stockcharts.com

Crude Oil Price Technical Analysis

The rest of this analysis has first been made available to Patrons who support my work. So to get immediate First Access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $3 per month. https://www.patreon.com/Nadeem_Walayat.

Your analyst,

Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2018 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in