Crude Oil is turning the corner, readying to rise again

Monica Kingsley Monicakingsley

S&P 500 was due for a little setback, but this one took 5 hrs and break of 4,492 support to play out – only the Monday top of 4,482 support did hold, just in time with the FOMC minutes game plan laid out for premium subscribers yesterday. Good enough to take that long opportunity – solidly in the black now – and today‘s CPI game plan is in place too – especially relevant since PPI yesterday did come in hot. The kneejerk decline reaction would present opportunities to thoughtfully add to one‘s longs (medium-term view) Let‘s dive into the charts and more upcoming real-time commentary on Telegram and Twitter.

Let‘s move right into the charts – today‘s full scale article contains 4 of them.

Sectors and stocks

Consumer is not folding, and even if excess corona savings are gone, household balance sheets, debt levels and serviceability are good. I still like discretionaries, especially with the current retreat in yields as of the NFPs Friday. AMZN remains another of my medium-term bullish picks.

Crude Oil

Crude oil is turning the corner, readying to rise again. Higher low will now be put in place, and yesterday mentioned $84 is to serve as support in worst case scenario today. Outllok though is rather bullish.

Author

Monica Kingsley

Monicakingsley

Monica Kingsley is a trader and financial analyst serving countless investors and traders since Feb 2020.

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