Commodities and oil poised for upside breakout
The commodity complex and crude oil are forming massive, multi-year momentum structures that point to an imminent upside launch.
The argument
The guest argued that despite two years of quiet price action, momentum indicators show a major breakout is ripe. For oil, a move to $68 next quarter would trigger a massive quarterly momentum breakout.
The thesis, stress-tested
✓ What validates it
- ✓Crude oil rising to $68 next quarter to break out quarterly momentum
- ✓Bloomberg Commodity Index closing a month above 106.50
▸ Risks discussed
- ▸Slowing global economic growth could temporarily suppress physical demand for energy and commodities
Hear it yourself
"You look at the price chart and you can't quite see it. You get back up to $68 next quarter, five weeks away, four and a half weeks from now. You're gonna break out quarterly momentum in a massive way to the upside."
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