Years ago, for a job, I made a recipe card for Black Gold. It was distributed to the public and was a featured handout when we held elementary school Compost workshops – where we made soil.
Working with the kids was fun. We got our hands dirty planting flowers, planting trees, pulling weeds, making black gold. Through a grant we made to elementary schools [$5k total; 5 schools], we built 3-bin composters made of timbers, posts and wire. Parents and students built them, and there were community contributions for some of the materials. (Big bang for buck.)
Black Gold. The dark, almost sweet-smelling, rich loamy soil that one makes from carbon and nitrogen sources. When I built a composter in my yard, I’d take a 50 gallon metal drum in the truck, drive down the road a few miles to the chicken houses, where I’d backup under the shoot and fill the drum with fresh chicken manure, a premium let’s-go material.
Anyhoo, to get on track here, the Black Gold of the title is Oil, not soil. And in this case, oil by way of /CL (continuous futures contract).
This daily /CL chart shows which side of the trade you’re on via trendline levels of support and resistance.
In considering a bullish bet:
- Cross over the dashed blue, and you’re doing fine, riding the green uptrend;
- Cross above the bottom solid blue, overcoming resistance;
- Cross above the top blue final hurdle, and all’s well.
If price loses support of the green uptrend, the bullish bet is off the table.
Perspective from the quarterly lens:
Happy Composting!
