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.

Oil_-_Gold

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