CHART OF THE DAY: Epic Move In The Energy Space [WTI Crude #Oil]

Editor's Note: The chart and brief blurb below are from today's Morning Newsletter written by Hedgeye CEO Keith McCullough. It costs $1 a day to subscribe. Learn more and subscribe here

CHART OF THE DAY: Epic Move In The Energy Space [WTI Crude #Oil] - z 05.14.15 chart

On the road yesterday in Boston, Darius Dale and I were spending a lot of time on risk managing the short-term within our longer-term view. That can be summarized in a picture (slide 52 of our Q2 Macro Themes deck) as follows:

  1. US Dollar Index can trade as low as 90.11, before it resumes its longer-term breakout
  2. Euro (vs. USD) can trade as high as $1.19-1.20, before it blows up again on Draghi devaluation
  3. Oil (WTI) can trade as high as $71.38/barrel, before it resumes its longer-term #deflation