Institutional selling is about to hit #OIL. How so? Recently we had price hit our monthly target at $92.16. This move up was forecasted many months ago when price was in the 60's. Just another example of our Sherlock System accuracy.
Recently in one of our morning market briefs we outlined with members how there was a forecast from Morgan Stanley that #OIL would hit $100 and we discussed how price would indeed make it up that way ONLY for the purpose of setting up the expectation for future forecasts to come true.
Today I scoured the net and I found this article which now has JPM expecting price to "overshoot" to $125:
Now why is this important? Because this sets up what we were speaking about earlier this week. Now that traders saw the previous forecast work out they are more likely to BUY #OIL now with expectations of price rallying higher.
ONLY PROBLEM IS...
Price is hitting an area that the BANKS will likely use to start filling in short orders and drive price much lower. We can't know this 100% but all indications are there and the SHERLOCK system suggests this will take place.