Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Today was extraordinary, and I have a lot to say about it. I'll probably be doing one – maybe even two – videos about it later today. But for now I'm off for some familial duties. I hope you guys had a great day.
"Now the bankrupt souls of the city are finally tasting defeat" – Elvis Costello/London's Brilliant Parade
Nearby NYMEX crude oil futures have the right look and the requisite underlying internals to suggest that yesterday's low at 93.42 and this morning's low at 93.81 ended the decline from the July 26 high at 100.62. If that proves to be the case, then as long as 93.75/42 remains intact as key support, oil likely is starting a recovery rally that should revisit key resistance at 98.00-98.60. If hurdled, it will trigger upside continuation to 100.00 for a test of the July highs.
Wouldn't that be perplexing while everyone is fixated on the potentially intensifying global economic slowdown?
Originally published on MPTrader.com.