"No warning can save people determined to grow suddenly rich" - Lord Overstone
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Gold •424 days | 2,368.70 | +35.30 | +1.51% |
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Platinum •15 mins | 1,370.50 | +8.80 | +0.65% |
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WTI Crude •1 day | 64.01 | -0.59 | -0.91% |
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Gasoline •1 day | 2.188 | -0.012 | -0.52% |
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Ethanol •424 days | 2.161 | +0.000 | +0.00% |
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Silver •424 days | 30.82 | +1.16 | +3.92% |
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Silver • 424 days | 30.82 | +1.16 | +3.92% | |
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Copper • 424 days | 4.530 | +0.111 | +2.51% | |
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Brent Crude • 1 day | 68.12 | -0.50 | -0.73% | |
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Natural Gas • 1 day | 2.997 | +0.053 | +1.80% | |
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Heating Oil • 1 day | 2.267 | -0.043 | -1.87% |
The Economic Community of West…
An economic slowdown in many…
This aging bull market may…
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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