crudeoilgainsafter40decline10wickmar31

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Crude Oil did something last month that is has only done nine other times in the past three decades!

Crude Oil finished the month over 10% above its lowest price during the month, creating a potential reversal pattern, after a large 12 month decline. The upper left plots points where Crude Oil created at least a 10% reversal pattern (bullish wick) following at least a 40% decline in the prior 12 months.

This combo (reversal wick & 40% decline) has only taken place 9 times in the past 30-years! The chart in the upper left plots where this combo took place.

The table in the lower right looks at returns for Crude when this combo took place. As you can see Crude had decent returns 3-months out (ave 12% gain), with the returns being the best as time went along. The average gain one year out is 50%.

Was this the only rare event to take place last month? NOPE!!! I shared with Premium Members yesterday that similar rare opportunities took place in Bio Tech and the US Dollar last month as well, creating historically wonderful opportunities!

 

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