Jan 8 2012

Forecasting British Petroleum Part #2

Written by:
Patrick Mikula CTA
Mikula Forecasting Company
www.MikulaForecasting.com
support@MikulaForecasting.com
Copyright © 2012 by Patrick Mikula All Rights Reserved

One of my favorite forecasting tools is the Horoscope Index. Unfortunately this MarketWarrior indicator often does not give a signal for long periods of time.

The chart below is the daily chart for British Petroleum (BP). This  Horoscope Index for BP has not given a change in trend signal for the past five months. There is now a change in trend signal being given for the middle of January 2012. This occurs when the Horoscope index moves above the upper boundary in the indicator. I have marked this with a vertical line and the letter A. After this forecast has worked itself out by early February 2012, I will post a forecast review and update.

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Click To Enlarge

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