Do you think oil bottomed out yesterday, after the rebound we have seen over the last two days? If so do you think we should get use to oil trading above $105 for the rest of the year?
My gut says there’s another move lower still but I did take a position in oil today with a stop right below yesterday’s low just in case I’m wrong.
Thanks for the charts.
Do you think this price effect on oil and the CRB is why the daily gold cycle has been more extended than normal (30+ days) and may still have a another few days until Monday or Tuesday with a spike to $1275?
I hadn’t considered that but it’s certainly a possibility.
Tried to sign up for trial subscription, but was unable to. Got a “transaction failed” message, no explanation given.
CRB is so close to the 200 dma, can’t imagine that it doesn’t get tested.
Buy, buy, buy!
The timestamp is wrong, or I would have the credit of calling before the move. 🙂
Looks like oil has confirmed that it wants to run again. What are your thoughts of this action?
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