Tag Archives: WTI

Crude Oil Intraday Peak Review

Crude oil has been cranking up in price, but the pattern gives us nothing but choppy waves. There still could be one more shot to the upside, but eventually we should get at least a correction, to throw off the bull wagon riders. There are a few near vertical moves that defy logic, but we also know that markets don’t work on logic. Markets run on emotions, and anything related to commodities usually runs on “fear”. Fear and extreme leverage produce all these wild spikes. 

I thought I would add a picture of what I can see any time during any hurricane season, which all should become less frequent until the end of hurricane season in November.  Even though massive amounts of warnings were given the majority were surprised when the hurricanes shredded the Caribbean islands. 

The Gold/Oil ratio, compressed a bit more making oil a bit more expensive gold. The last time we had a 24.83:1 ratio was way back in April 2017. Still, this is not near any extreme just yet. I record ratios several times a week, and we would have a concern if this ratio suddenly shifts and compresses much more.