Analysis from Ryan Detrickk, CMT via Twitter: The Global A/D line made new highs again. Additionally, the Global Dow Index is nearing a major breakout. Tough to buy the ‘we’re headed for a global recession’ crowd when these two things are happening.
Summary The oil market is now in a cyclical upswing due to the rebalancing of offer and demand, calling for higher oil prices forward. This will have two major consequences for the energy commodity that is already growing at a subpar growth rate below GDP growth: to reduce even further the oil demand growth rate, […]