Dominate Your Market
by Jim Wyckoff
Keener risk aversion returned to the marketplace late this week. Featured in the marketplace this week is traders unwinding their “inflation” positions. That means selling commodity markets and buying U.S. Treasuries. Nymex crude oil futures have backed way off the six-year high of $76.98 scored earlier this week. This week’s big losses in crude oil have created a bearish “key reversal” down on the daily bar chart to suggest a market top is in place. Stay tuned!
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