FULL CREDIT TO THE EXPERT WHO CORRECTLY PREDICTED THE OIL PRICE CRASH
By John Donovan
In June of this year Forbes.com published an extensive prescient article by Jesse Colombo, an economic analyst, under the headline:
“9 Reasons Why Oil Prices May Be Headed For A Bust”
His prediction made 6 months ago:
“There are a growing number of reasons, however, why crude oil prices are likely to finally experience a bust in the not-too-distant future.”
Jesse Colombo correctly predicted an event of huge significance. Ask Putin or Shell’s Ben van Beurden.
Some further extracts from his brilliant article, which deserves reading in full.
While extreme aggregate trading positions can persist for quite a while, as is the case in the crude oil market for the past few years, they are still a reliable indication that a powerful market reversal is likely to occur when the proper catalyst eventually appears and sends speculators heading for the exits. So far, no bearish catalyst has presented itself in the crude oil market, but the other points that I’ve listed in this piece may combine to form a perfect storm that finally causes the oil market to crack.