Oil prices predicted to bottom in mid-2024 by McClellan Financial Publications, based on gold price trends.

Oil prices are predicted to bottom soon, according to McClellan Financial Publications analysts. They argue that recent gold price trends, adjusted forward by 19.8 months, can serve as an indicator for oil prices. Although not flawless, the model generally provides strong accuracy and aligns with historical correlations. The report suggests a bottom in mid-2024 followed by a rise toward the end of the year.