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Buxton ND | A wild week last week,with a weekly close under 90.
Rally early week to re-test the break out/down level just above 90
Then a quick flush under 88 wee hours of this morning.
Been breaking long term weekly up trend line.
IS breaking long term monthly UTL = up trend line.
IS or IS it "ISIS" this has WAY more to do with money flow then the ISIS. 2011/12 this deal would have sent crude on MT's rocket ship,,,NOT the case this year. Money flow IS "We're Leaving" since give or take the deal hit the fan.
So money flows can even OUT WEIGH ISIS.
Crude is close to its 100 month MA
This 100 month has been rising for give or take a DECADE,,,yes even AFTER the 2008's crash.
200 month is at a level that will shut down the Tar Sands,or at least that's what they say.
Many commodities are near 2008 levels,crude IS-IS NOT.
Crude is in a major (what I think the proper name is called a pennant) on the monthly. Some call this a assenting triangle/descending triangle,I just call it a dam wedge. WHICH it is breaking out to the down side............................. I'm NOT the only one that looks at this type stuff and breaking to the down side out of this pattern is a invitation for "new short seller" to jump on the bearish band wagon................................................
Crude's been high for a LONG TIME,will or IS it breaking lower ? ? ?
Fundamentals of oil supply are quite bearish IMO.
Less vehicle miles driven per year.
MORE fuel efficient vehicles.
Did I make these comments OR did Mr. XYZ make these comments in the 1970's ? ? ?
These comments above fit into my general thyme of round #2 of the 1970's,can't add 80's cause we don't have the interest rates,better stop there as that ANOTHER SUBJECT. (yet)
Now question me,question these facts,tare them apart or get me thinking another direction,I can switch much faster then a women LMAO
Crude is inverted,NO carry,can we apply Maize's basis will follow spreads ? No clue what that means in crude,,,just just a brain tart ! ! ! Crude is having a active day again,,,my read is very clearly CLAWS-bearish. | |
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CRUDE *****
