COMMENT: Marty; I have to say, the forecasting on Socrates in Oil is very impressive. It picked the high and then forecast a waterfall in February even though February closed higher. From even a technical perspective, it did not appear that such a sharp collapse would unfold.
Absolutely amazing
KW
REPLY: This is completely a pattern recognition system which is machine learning based so it constantly improves with time. It is writing its own code. Every pattern it discovers across all markets it records and assigns it a specific number. A monthly closing below 5240 will keep oil in a bearish position, but the technical support lies at the 4415 level. A monthly closing below 4200 will signal the reversal of fortune. Otherwise, welcome to the choppy world of market chaos.
This collapse in oil prices is based upon the amount of crude oil in U.S. storage facilities rose to another record high reaching 8.2 million barrels from the previous week, according to the Energy Information Administration. The increase was more than four times what analysts expected. The fact that the computer can pick up these patterns demonstrates that those who have such information begin to trade in anticipation. Picking up these patterns may be extremely subtle. Nevertheless, the flow of capital is the key to everything.
Leave A Comment