And here’s part of the story.. The crude oil weekly chart. But really what gave me the first heads up that things were changing can be found in the post i made here two weeks ago on the USD finally looking like it’s done with it’s bull run.
This began to confirm on the EUR daily chart which enabled me to get long EURUSD as well as some agricultural commodities such as corn. I’m currently silly long a number of vehicles against the USD.
Here’s WTI on the weekly:
And once again this blog was WAY ahead of 99% of highly (over) paid asset managers..
What does it mean for equities? Like i said on twitter a couple weeks ago. The last way to rally this market..or at least keep in flat in the face of slowing growth is a weakening USD. But i will not be buying back equities unless something big happens. Still believe there’s too much risk on the table with China and the coming collapse of pretro economies such as Saudi Arabia and the Mafia-Midget’s regime in Russia.
Putin does a false flag to deflect building domestic anger? Some Western countries sanction RU oil? Could be catalyst for higher oil finally.. But Putin will need to do something ridiculous soon..
The best charting teacher I know: