• Billboard bullbear

    THIS DEAL EXPIRES SOON - CYBER MONDAY FLASH SALE

    OUR BEST DEAL ALL YEAR JUST GOT BETTER

    LIMITED-TIME OFFER... GET UP TO 73% OFF

This is THE chart with the sensitive inverse relationship to my last note (rising US interest rates and the US Dollar). Crude Oil is in a bearish "Trade" position under the $127.20 line, and a bullish one above that.

If Bernanke raises rates he can break the back of the futures market, which continues to flag contango in expected prices. I don't see any credible support for crude oil until $102.65. C'mon big Ben, let's get on with it!

KM

(chart courtesy of stockcharts.com)