Before we begin, I went and found out that about 1/3rd of tradingview users are millennials which means y’all are younger than me, so I don’t know how much you remember the run up to the housing crisis and it is of course different when you lived it. The credit crisis really started when Lehman brothers was permitted to collapse in September 2009 when it filed for bankruptcy Preceding that was a massive surge in gas prices with dealt a huge blow to the auto industry as no one was buying new cars and inventory was just sitting on the lot. And of course, there was a massive housing bubble at the same time.
This post is going to be looking at the prices of oil and I am long on WTI and BCOUSD, which means contextually I expect these to drive the wider market and GDP into recession. The chart above shows the inverted head and shoulders that overperformed like a beast and caused a WTI to double. We now see the development of a massive cup and handle formation over the last 4 years with a target for WTI to almost triple from current levels and increase 80% from the neckline. If we get overperformance on the cup and handle we run the risk of again having all the same problems we had a decade ago as the price surges when the population is overleveraged and low on disposable income. The price action found support on the 200w and before long I believe we will see the 20w cross above the 50w again and we will go boom.
Brent Crude below on the month chart shows a recent technical double bottom on the RSI and a higher low on the price action, a subtle hidden bullish divergence. The Hull MACD is a fast acting MACD that more closely varies around zero and it appears that the Hull MACD is swinging up and will be positive soon. The normal MACD looks like it is in the verge of having a bullish cross above zero. The cirlcle on the MACD shows the last time that happened and the blue arrows point out how the price action was tight for two months before that happened. If history roughly repeats itself then BCOUSD should start to perform in 2-3 months.
Still thinking about what I want to put in the series. Bank stocks, auto, real estate are all on the watch list and I continue to use the SPX as my equities bench march. Links below on the Lehman colapse and the milenial citation.
www.tradingview.com/...atistics-facts-5469/
www.investopedia.com...rothers-collapse.asp
This post is going to be looking at the prices of oil and I am long on WTI and BCOUSD, which means contextually I expect these to drive the wider market and GDP into recession. The chart above shows the inverted head and shoulders that overperformed like a beast and caused a WTI to double. We now see the development of a massive cup and handle formation over the last 4 years with a target for WTI to almost triple from current levels and increase 80% from the neckline. If we get overperformance on the cup and handle we run the risk of again having all the same problems we had a decade ago as the price surges when the population is overleveraged and low on disposable income. The price action found support on the 200w and before long I believe we will see the 20w cross above the 50w again and we will go boom.
Brent Crude below on the month chart shows a recent technical double bottom on the RSI and a higher low on the price action, a subtle hidden bullish divergence. The Hull MACD is a fast acting MACD that more closely varies around zero and it appears that the Hull MACD is swinging up and will be positive soon. The normal MACD looks like it is in the verge of having a bullish cross above zero. The cirlcle on the MACD shows the last time that happened and the blue arrows point out how the price action was tight for two months before that happened. If history roughly repeats itself then BCOUSD should start to perform in 2-3 months.
www.tradingview.com/...atistics-facts-5469/
www.investopedia.com...rothers-collapse.asp
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
