By: Discolo on Domenica 25 Gennaio 2015 12:40
Martin Armstrong Warns Oil To Retest $35-$31 Level
Dec. 31, 2014 4:53 AM ET | Includes: BNO, DBO, DNO, DTO, DWTI, OIL, OLEM, OLO, SCO, SZO, UCO, USL, USO, UWTI
Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More...)
Economist and forecaster, Martin Armstrong, warns crude oil is in the grips of a massive deflationary cycle.
Armstrong warned to get out of Gold at the end of 2012, for it was the 13th year in a row it closed higher.
This deflationary cycle is part of what he calls "Big Bang," which will be the meltdown of the sovereign debt markets that will begin 2015.75 (Oct. 1st, 2015).
On December 31st, 2012, Martin Armstrong noted in his blog that:
Gold closed higher than 2011 warning that 13 years up is not a charm.
A few weeks later in January of 2013, he noted:
Gold remains vulnerable to a collapse although not instantly. A monthly closing beneath 1532 will signal that a drop to the mid-1100 zone is likely.
Here is a chart of GLD from 2012: