I was wondering the same thing but really no idea on whether or not it will cause oil prices to rise. So far, it hasn’t, so those-in-the-know must not think so.Crude oil charts still not providing a lot of clues to the near-term directly as it continues to chop around aimlessly, although mostly drifting lower recently. Better fish to fry elsewhere right now, IMO.

looks like ADBE broke the long term support uptrend line dating back to 2018, and its testing from below.

I jumped the gun on FAZ and TZA. Should have waited for market close or new all time highs. Ohh well. Let’s see what tomorrow brings.

Randy,
Do you think seizing those tankers in Venezuela will affect the oil markets? The charts of oil are kind of in no man’s land now.

Agreed. In fact, most of the ag input stocks look like the current corrective wave is likely over, while many are poised for the next leg up, MOS & NTR included as well as CF, IPI, CTVA, UAN, & SMG.

No change in the technicals on gold, silver & GDX since covered in yesterday’s video: GLD still riding up that uptrend line on the daily chart, with SLV still above its comparable uptrend line with the next sell signals to come on solid breaks below both (GLD & SLV).

ADBE breaking out above this bullish falling wedge/ downtrend line, providing an objective long entry following the most recent divergent low