Oil Teetering Ahead of OPEC+

Conditions are ripe for an oil price crash.

There, I said it. You can bag me out in future if I’m wrong.

With OPEC+ meeting in a few days to discuss raising supply, traders have been selling first and asking questions later.

Brent crude oil was down 6.4% on the week at time of writing.

The low of the last four and a half years of trading is at US$58.44.

The charts are pointing to a swan-dive occurring beneath that level towards US$45.00.

But when you look at the last 25 years of oil trading, a drop of that magnitude could set up an awesome buying opportunity.

Expectations were that oil use would be phased out over the next few decades, so there is a lack of investment in finding new oil fields.

If demand ends up higher than expected, we may be sleep walking into an undersupplied market in a few years’ time.

So, a crash first and then a massive rally later.

Charlie and I show you a detailed analysis of the oil chart over the past 25 years so you can understand what may be coming and why it could be a great opportunity for you soon.

We also consider the US government shutdown and the recent run in biotech stocks.

So, click on the video below to watch the latest episode of the Closing Bell, and be sure to give us a ‘like’ on YouTube if we are adding value to your day.