The price made the typical sort of bottom you'd want to see in an uptrend
If we look at the 4 hour chart this is what we got:
Grains are at ~7 years highs
Precious metals are at ~7 years highs, have been for a while now, with the exception of palladium indu/precious, up what maybe 300% from 7Y highs
Copper is, Nickel was, Tin is, all at ~7 years highs
Lumber at all time highs
What is energy waiting for?
Not like the saudis are extracting it at a loss because of more expensive commodities and can't afford food but supply has been a bit tight and the OPEC+ decided to keep it that way 😀
Russia & Biden imposing sanctions on the US nice. (Biden because he ended the pipeline & is anti fracking hence more reliant on imports).
The collapsing west losing their grip and OPEC+ countries were hit by covid they need the cash to absorb that shock.
Aging and dependant west going to pay the bill this time.
The price levels the OPEC has shown were interesting to them, by declarations and prices, 75 and 100:
Russia used to say long ago they did not mind cheaper oil prices but that was prob part of the trade war before people knew about it.
Once the media started covering it it was almost over right?
Now they are best buddies and hand in hand joyfully prepared to let prices go to infinity.
It's very psychopathic so can also go to zero tomorrow.
If we look at the 4 hour chart this is what we got:
Grains are at ~7 years highs
Precious metals are at ~7 years highs, have been for a while now, with the exception of palladium indu/precious, up what maybe 300% from 7Y highs
Copper is, Nickel was, Tin is, all at ~7 years highs
Lumber at all time highs
What is energy waiting for?
Not like the saudis are extracting it at a loss because of more expensive commodities and can't afford food but supply has been a bit tight and the OPEC+ decided to keep it that way 😀
Russia & Biden imposing sanctions on the US nice. (Biden because he ended the pipeline & is anti fracking hence more reliant on imports).
The collapsing west losing their grip and OPEC+ countries were hit by covid they need the cash to absorb that shock.
Aging and dependant west going to pay the bill this time.
The price levels the OPEC has shown were interesting to them, by declarations and prices, 75 and 100:
Russia used to say long ago they did not mind cheaper oil prices but that was prob part of the trade war before people knew about it.
Once the media started covering it it was almost over right?
Now they are best buddies and hand in hand joyfully prepared to let prices go to infinity.
It's very psychopathic so can also go to zero tomorrow.
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