|2018.11.25 XOI.X Cycle Model Chart|
The model continues to converge, but there is a continuing right phase shift and a wide discrepancy between actual and predicted suggesting lower prices are much less probable. Note also the change in the right axis descriptors, as the maximum has decreased from 2800 to just under 2200. A previous iteration of the model is shown below and here on the blog.
A surrogate oil index, USO, remains on sell according to the medium term models, and has been on sell since 2018.10.04. This suggests the right phase shift of the cycle model may continue for a while.
|2018.09.07 XOI.X Cycle Model Chart|