Friday, July 26, 2013

Oily Triple Top

Still on the short post mode.

Crude oil... Looks like a possible triple top going on here?? The EU is entering a recession, China is slowing down, the US is producing frac shale oil at record levels.. What's holding up prices? Political turmoil in the ME and the Saudis acting as swing producers. 

..and gold, a forerunner in my opinion, has broken down most decisively.


3 comments:

JP said...

I see that you have returned to actually blogging again.

With respect to oil, I'm going with Jeremy Grantham's analysis that there was some sort of major sea change in oil pricing during the last run up.

Haven't thought about it much since then, to tell you the truth.

Jimmy said...

'What's holding up prices?"



Bernanke. Duh. Now Syria. Evidently Libya's going to hell. Print more money or taper?

Rufus said...

Yo Hellasious, get that wifi fixed yet?

No end to the triple top till uncle sam is through stirring another hornets nest.