Oil continues higher. It was up almost 2% this morning when I got up.
Who cares, what’s the difference, it’s bullish trend.
If you know our call on Inflation Accelerating, you know there are a lot of commodities that are inflating.
You should look at Oil through the lenses of volatility as opposed to staring at the surface area of the price like a simple moving average monkey would. The core components you need to monitor for any asset is its price, volume and volatility. You should be alert and ready to learn using fractal dimensions, modern day math, and the volatility of volatility as a leading indicator.
If you look at the rate of change of Oil volatility, the rate of change continues to fall. The volatility of oil on this chart is circled in green because that is right where we made the call on June 23rd to get long commodities.
Meanwhile Oil Volatility continued to fall.