For the most part, yes. /CL has been moving comfortably away from that 58.67 resistance level that it broke out of a couple of weeks ago & was dancing on top of (testing it) since then until it started to rally off that level at the end of last week & so far today. I just posted an updated chart of /CL in today’s Charts I’m Watching post with an uptrend line to watch. Bullish for now but if that TL breaks with conviction, we could get another backtest of 58.67 & possibly even the parallel uptrend lines below.

Looks that way (inflation trade in play). Commodities are finally coming to life & not just the sporadic bear market rallies a single commodity or two here or there but more of broad-based strength in both hard & soft commodities recently (GCC helps to illustrate that as it is an “all commodities” ETF, both hards & softs). Plus, gold might not be rallying lately but it refused to go down despite the recent strength in equities. Energy stocks rallying lately as well which would also support the inflationary case (crude up).

Correct, I am longer-term bearish on the US Dollar and yes, a falling Dollar is bullish for gold. I often show the inverse relationship between gold & the US Dollar in the videos covering gold & did so just last week. This link should start at the point where I highlighted the correlation between the Dollar & gold: https://youtu.be/i6WOqYuSiAk?t=1030