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Patrick Karim, technical analyst at Technical Traders Ltd, suggests the next significant breakout in oil could result in the commodity outperforming inflation by 300 to 400 percent.
Karim notes that if historical trends repeat, the anticipated move in crude oil will not just be about higher energy prices but could mark a broad repricing of oil in real terms.
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Karim previously highlighted the potential for a major market move in crude with his crude oil chart repost. In a separate note, he emphasized that oil was showing higher probability setups compared to gold and silver at the time according to his technical analysis. These earlier observations frame Karim’s ongoing focus on crude oil’s technical outlook.