Crude oil a leading inflation indicator
Two observation made the last two years between crude oil and CPI:
1) There were 5 waves up and
2) 3 significant peaks
However, between the last 2 peaks of crude, it was a lower low follow-by its downtrend, and CPI followed this downtrend subsequently.
Among many commodities, crude oil moves the most in tandem with CPI, but crude seems to lead in this study.
Refer to the daily chart on your own, try drawing a downtrend line, you will see crude oil prices has broken above its downtrend line recently. If crude oil is going to transit to an uptrend from here, we will have to track CPI very closely. The inflation fear is still there.
Did a video on this observation last week, refer to the link below.
Crude Oil Futures
Minimum fluctuation
0.01 = $10
0.10 = $100
1.00 = $1,000
10.00 = $10,000
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs tradingview.com/gopro/
1) There were 5 waves up and
2) 3 significant peaks
However, between the last 2 peaks of crude, it was a lower low follow-by its downtrend, and CPI followed this downtrend subsequently.
Among many commodities, crude oil moves the most in tandem with CPI, but crude seems to lead in this study.
Refer to the daily chart on your own, try drawing a downtrend line, you will see crude oil prices has broken above its downtrend line recently. If crude oil is going to transit to an uptrend from here, we will have to track CPI very closely. The inflation fear is still there.
Did a video on this observation last week, refer to the link below.
Crude Oil Futures
Minimum fluctuation
0.01 = $10
0.10 = $100
1.00 = $1,000
10.00 = $10,000
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs tradingview.com/gopro/
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