Tuesday, November 30, 2021

WTI Update

 WTI it's been too long. LOL

Short term the risk of a $6 or $7 bounce is pretty high over the next several days.

See the hourly chart below and the positive divergence on the RSI, and the "right look" of the move down over the last week from the label -2-. the fib .78 retrace.

Longer term I think the risk remains significantly higher possibly exceeding the old highs at $158. Why not? Who can deny the inflection point completion of the down move last year. 

There IS a fib .78 retrace of the last leg up on the (daily chart labeled 5). Right here.  Supports short AND possibly medium term risk higher. 

Or do we get a deeper longer term retrace of the whole move up over the last year? Like to the mid $50's?  See weekly bar chart.

So above $75 an overlap of the assumed -1- and risk remains higher, vs. taking out todays low by .half a buck points lower longer with the previous low $61.85 targeted next.

Hourly

Daily


Weekly




Saturday, November 27, 2021

EU Declares Omnicron Risk High to Very High

 From one of the very best sources of pandemic information, Croftsblog:

given its immune escape potential and potentially increased transmissibility advantage compared to Delta, we assess the probability of further introduction and community spread in the EU/EEA as HIGH. In a situation where the Delta variant is resurgent in the EU/EEA, the impact of the introduction and possible further spread of Omicron could be VERY HIGH.  In conclusion, the overall level of risk for the EU/EEA associated with the SARS-CoV-2 variant Omicron is assessed as HIGH to VERY HIGH.  

https://crofsblogs.typepad.com/h5n1/2021/11/threat-assessment-brief-implications-of-the-emergence-and-spread-of-the-sars-cov-2-b11-529-variant-of-concern-omicron-f.html