As I look at this long-term chart of continuous contracts of crude oil, I cannot help but believe that the failure of the latest top would telegraph an important global economic downturn. As TNR might say, energy don’t lie, bro.

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As I look at this long-term chart of continuous contracts of crude oil, I cannot help but believe that the failure of the latest top would telegraph an important global economic downturn. As TNR might say, energy don’t lie, bro.

The only red on the screen this morning, bless it, was crude oil. I have been following this pattern for months. We’ve got a massive right triangle top in formation composed of two portions. We need to crack below the yellow zone to really get this thing rolling.
