Crude Oil, Gold Ready To Slide
Tim Knight | Aug 15, 2022 01:00AM ET
Preface to all five Hope Springs Eternal posts: My original idea was to have a series of bearish charts that were still intact and the formerly-bearish charts which had been wrecked. The vast majority are still intact, however, so I’ve instead broken up the ETF charts into five different categories, and I’ve included remarks in the caption of each chart (which, as always, can be clicked for a larger, more readable version). As for H.S.E., that stands for Hope Springs Eternal (in the bearish breast)………….
Crude oil still looks poised for a hard fall
I think gold is busted and ready to fall with all other assets
Heating oil has a clean gap and is about to break its uptrend
The commodity fund is in good shape as long as it doesn’t push above the horizontal
Get The News You Want
This is rather redundant with GLD but just so you get the idea
Silver’s right triangle pattern also bearish
If we break this channel, it’s bombs away for energy
Materials needs to stay under the lower horizontal
This got dangerously close to wrecking its failure, but the broken trendline is still intact
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