Oil Set To Super-Spike 63%, Crushing Global Stock Markets
January 25, 2013
With continued volatility in gold and silver, top Citi analyst Tom Fitzpatrick believes that crude oil is now set up to surge as much as a staggering 63% in 2013. This would crush global stock markets, sending the wildly enthusiastic bulls reeling. Fitzpatrick provided King World News with 7 powerful charts to illustrate the danger this situation poses to the bulls. Fitzpatrick has been incredibly accurate regarding his forecasts so KWN takes his warning very seriously.
Here is what top Citi analyst Fitzpatrick had to say, along with powerful charts: “We have constantly articulated the view through our longer term overlays in particular that the US Equity market was establishing a topping phase that could yield a retracement lower in the months ahead of 20%+.
This suggests that price action in the weeks ahead may be quite critical in determining whether this expected turn lower is going to materialize.