From the McClellan Report:

“….the 2008-09 drop in stock prices saw an echo in the 2013 drop in gold prices, which has now had its further echo in 2014 for crude oil prices.  There is a similarity in the way that investors panic out of their holdings in each, and that common physics/psychology shows up as a similar pattern in the price plot.  More importantly for oil traders, we have now likely seen the climax point for the oil price decline, and up next is a robust but failing rebound which should get everyone excited about oil again in 2015, only to disappoint them all over again.


If the gold crash analog plays out accordingly we should see a rally back up to the $65-$70 range in WTI crude oil during the first couple months of 2015. The rally will fail and price will make a lower low during the summer.

Read the rest: Oil Follows Gold’s Crash Pattern