TWI
Senior member
- Messages
- 2,559
- Likes
- 269
I expect Benanke and his boyz at the fed would disagree with you there as they continued to crank up the dollar printing presses until they explode. If you look back there is usually an 18month lag between crude prices and economic repercussions. I think the only reason we are not already in the sh*tter is the liquidity that has been added. Not sure how long this can go on and also not sure how long the Fed can fudge the inflation figures to try and convince us all that inflation is not an issue...
I do not think $100+ would be at all surprising in the coming 6 months. Despite the fact that there is plenty of product available, Iran business is without doubt a real short term bull and the contango makes buy, hold and sell forward more attractive. Also the dollar collapse will make $100 less extreme in other currencies.
Topped ?
The Weekly chart certainly displays an inverted H&S like reversal formation (AB in EW) rather than an ABC formation -- higher prices to come as AG is currently indicating on the Monthly.
72 is the mid point between 55 and 89 and one of the numbers I use in fx Bar Counts. While the Lucas number in the fibo ratio series is 76, 72 like 36 is a product of Lucas number 18 and both are significant as a trend change can occur at those BC. Note the Fibonacci BC on the Monthly.
Coincidentally '72' is where gold has currently topped out -- $720s, hitting the 76.4% Retracement of the all-time high.
The Weekly chart certainly displays an inverted H&S like reversal formation (AB in EW) rather than an ABC formation -- higher prices to come as AG is currently indicating on the Monthly.
72 is the mid point between 55 and 89 and one of the numbers I use in fx Bar Counts. While the Lucas number in the fibo ratio series is 76, 72 like 36 is a product of Lucas number 18 and both are significant as a trend change can occur at those BC. Note the Fibonacci BC on the Monthly.
Coincidentally '72' is where gold has currently topped out -- $720s, hitting the 76.4% Retracement of the all-time high.
Attachments
crude to 89 is an ilusion like gold 100...in a couple of years both will be replaced by ethanol/gas/electricity and platina/silver/paladium,...just look at this year winter,...no snow and no real freezing like it use to be in this time of year...the question is only when?
