Down from here now bearish.
Bearish everything bar gold/silver/precious metals and utilities.
Crude Oil
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Bearish everything bar gold/silver/precious metals and utilities.
LOL at this point it might keep rising until something snaps in world economics then straight free fall... Either way it's not rational what so ever!
I have it looking going up weak with no conviction, still bearish, just like the SP500 et al.
U.S. Crude
U.S. shale oil is being rejected by some Asian refiners because of contamination that makes it hard to process. As the crude makes its way through the complex American supply chain, it apparently picks up problematic metals and chemical compounds. Oil coming from the Middle East doesn't tend to have this problem because each type of oil there goes through its own infrastructure, whereas in the U.S. the same infrastructure is used for various types of crude. Bloomberg
U.S. shale oil is being rejected by some Asian refiners because of contamination that makes it hard to process. As the crude makes its way through the complex American supply chain, it apparently picks up problematic metals and chemical compounds. Oil coming from the Middle East doesn't tend to have this problem because each type of oil there goes through its own infrastructure, whereas in the U.S. the same infrastructure is used for various types of crude. Bloomberg
Fake news plant. Oil from the Mid East is graded as “SOUR” - in other words, it has a high sulphur content, has a slower catylitic Crack throughput, and therefore trades at a discount to North American and North Sea Brent grades.