"No warning can save people determined to grow suddenly rich" - Lord Overstone
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Gold •141 days | 2,368.70 | +35.30 | +1.51% |
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Platinum •15 mins | 973.50 | +3.00 | +0.31% |
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WTI Crude •10 mins | 70.51 | +0.41 | +0.58% |
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Gasoline •10 mins | 2.067 | +0.007 | +0.35% |
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Ethanol •141 days | 2.161 | +0.000 | +0.00% |
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Silver •141 days | 30.82 | +1.16 | +3.92% |
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Silver • 141 days | 30.82 | +1.16 | +3.92% | |
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Copper • 141 days | 4.530 | +0.111 | +2.51% | |
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Brent Crude • 11 mins | 74.59 | +0.36 | +0.48% | |
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Natural Gas • 10 mins | 3.493 | +0.154 | +4.61% | |
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Heating Oil • 14 mins | 2.281 | +0.007 | +0.31% |
An economic slowdown in many…
Wells Fargo has done it…
The Economic Community of West…
Figure 1 is a weekly chart of the i-Path Goldman Sachs Crude ETN (symbol:OIL).
Figure 1. OIL/ weekly
Simply put OIL has broken down. Last week saw a close below the key pivot or support level at 21.09. This is a significant and long standing base formation, and such low volatility breakdowns typically lead to significant price moves.
I will leave it to you the reader to put the pieces together as it pertains to the global economy.
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