Market Talk – May 8, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 632.73 points or -1.63% to 38,202.37 Shanghai decreased 19.26 points or -0.61% to 3,128.48 Hang [...]
Crude Oil – Month-End February 2016
We have interestingly reached an 86-year peak in oil reserves. This may actually be the end of that trend. Oil prices are causing companies to collapse, and in the Middle East various states have been forced to borrow money and raise taxes. We closed last month at $33.62 and held the Monthly Bearish at $33.55. We are once again flirting with that number closing Friday at $32.78. The low for the month was the week of February 8. Our Weekly Bullish stands at $38.40. Our next key turning point will be April. A daily closing above $33.60 on Monday will be a warning that we may yet see a rally to everyone’s shock and dismay. This would be more geopolitical rather than supply/demand.
Latest Posts
PRIVATE BLOG – May 7th Continues
PRIVATE BLOG – May 7th Continues Private blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com. https://ask-socrates.com/
British MoD Allegedly Hacked by China on May 7
The Ministry of Defence (MoD) announced on May 7 that they were targeted by hackers. The initial announcement did not state who was responsible, but Sky News reported that their [...]
Germany and Japan to Hold Joint Naval Exercises
Japan and Germany announced plans on May 6 to hold joint naval exercises to “maintain the rules-based international order.” Despite forming an alliance over the last world war, the two [...]
