Crude Oil Up 2 Months In A Row For 2024

JC Parets
March 1, 2024

What a month for investors!

My understanding is that due to higher inflation, February now has 29 days.

And so here we are: March 1st.

You know what that means?

New Monthly Charts are now available, and we'll be going over it all together this Monday March 4th @ 6PM ET.

Premium Members can register for that here.

In the meantime, check out the monthly candlesticks for Crude Oil Futures. Look at this massive base above support:

You see, here's the thing about Crude Oil. Prices have NOT been going up, not for quite some time.

But they haven't gone down either.

That's what stands out to me.

Former resistance, has turned into support.

This, of course, is classic supply and demand behavior.

Crude Oil is pretty much flat since the 4th quarter of 2022, when stocks really got going to the upside.

During that time, we've seen a bid in Energy whenever stocks come under some pressure, like in July, August and September of last year.

And we've seen selling come into Crude Oil futures when stocks are doing well, like they did in Q4 last year.

So how come both the S&P500 and Crude Oil have rallied during the first 2 months of 2024?

Has this relationship now changed?

Or is Crude Oil trying to tell us something?

We'll go over it all on Monday night.

Make sure to register here.

See you there!

Also, in case you missed yesterday's LIVE Crypto Breakthrough Event, you can catch the replay here.

I show you some of the cool stuff I have in my personal wallet, how we use the on-chain data that we don't have in tradfi markets, and how we get alerted once new emerging micro tokens enter our universe.

This was a lot of fun. Watch the replay here.

JC

 

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