With the geopolitical cauldron boiling, crude’s docility is hard to fathom. One theory has it that the heavy manipulation that has always characterized energy markets has conspired to suppress the price of crude so that war fears don’t stampede the herd. All it would require to trigger a global war is for some Russia-armed enemy of America to take a potshot at one of the U.S. aircraft carriers stationed in the Middle East right now. My 117 rally target for December crude will remain viable in any case, but the futures will first need to overcome the drag created when they fell last week after failing to take out an ‘external’ peak at 89.60 from October 2. Most immediately, that would require a decisive move past the 86.33 midpoint Hidden Pivot of the pattern shown. ______ UPDATE (Oct 31, 9:16 p.m. EDT): All things considered, oil’s price decline is quite impressive. However, it looks like those who have been manipulating it lower will run out of room at 79.94. the Hidden Pivot support shown in this chart.
CLZ23 – December Crude (Last:81.37)
Posted on October 29, 2023, 5:21 pm EDT
Last Updated October 31, 2023, 9:19 pm EDT
I also read the theory that the price of oil is being used to camouflage war.
Makes me sick to realize the reality in need of camouflage.
To realize the fools in charge.
When is it time to stop talking about/acknowledging the rampant crimes of the powers that be, and instead, as a community, begin to talk about what we can collectively do to help turn that around? Or is it accepted, that nothing can be done, that the best we can do is grow our own food, hide our money, and fly under the radar?