Maria_Bartiromo
Nuovo forumer
Here I am!
guys I'm proud to inform you that today at 5pm CET I'll be live on CNBC to talk about crude oil...I'll guest 2 Morgan Stanley's market's analists...
Meanwhile enjoy this:
In the Short Term, I am expecting a rally in the Canadian Dollar which tracks Crude prices quite closely as a "PetroCurrency" The reason for the pop in the Canuck Buck is that it has finished a correction (with crude) and the COT levels have gotten to a point where rallies have commenced before. See Chart Below.
Further, I have tried to lay out a scenario for crude that makes the following assumptions: a Bear Mkt in Crude has started based on a 13/34 EMA Cross on the weeklies and a trendline break. we have just completed the first wave and a retracement from current levels to $67.5-$70 is possible that will see the 13 EMA "kissback" the 34 EMA where the next leg down will start. Also, there is a potential Head and Shoulders Top on the Weekly with a neckline at $57.5 and measures to exactly $35 for an objective. While I know that the pattern is a bit large for a weekly and how/if/when we ever get to $35 is open to discussion for sure.
If the scenario above has any merit, then it has huge implications for Commodities that may coincide with a "Deflationary" scare, and a very real chance that many Hedge Funds who don't unload during the st rally will drive prices down even faster as they all try to get through a very narrow door. The top in Commodities will likely coincide with a significant $USD bottom....in the $0.78-$0.80 range...Stay Tuned
I LOVE ITALY!!
guys I'm proud to inform you that today at 5pm CET I'll be live on CNBC to talk about crude oil...I'll guest 2 Morgan Stanley's market's analists...
Meanwhile enjoy this:
In the Short Term, I am expecting a rally in the Canadian Dollar which tracks Crude prices quite closely as a "PetroCurrency" The reason for the pop in the Canuck Buck is that it has finished a correction (with crude) and the COT levels have gotten to a point where rallies have commenced before. See Chart Below.
Further, I have tried to lay out a scenario for crude that makes the following assumptions: a Bear Mkt in Crude has started based on a 13/34 EMA Cross on the weeklies and a trendline break. we have just completed the first wave and a retracement from current levels to $67.5-$70 is possible that will see the 13 EMA "kissback" the 34 EMA where the next leg down will start. Also, there is a potential Head and Shoulders Top on the Weekly with a neckline at $57.5 and measures to exactly $35 for an objective. While I know that the pattern is a bit large for a weekly and how/if/when we ever get to $35 is open to discussion for sure.
If the scenario above has any merit, then it has huge implications for Commodities that may coincide with a "Deflationary" scare, and a very real chance that many Hedge Funds who don't unload during the st rally will drive prices down even faster as they all try to get through a very narrow door. The top in Commodities will likely coincide with a significant $USD bottom....in the $0.78-$0.80 range...Stay Tuned
I LOVE ITALY!!
