Crude Oil Hype Abounds

While the hype is aiding my position in Russia (ERUS) it is hype nonetheless.

As for gold, well… that didn’t last long. Of course that should be no surprise. You see a headline touting geopolitical tensions and gold, you run don’t walk the other way.

Gold Prices Recover from 2019 Lows as U.S.-Iran Tensions Mount

This hype is especially pumping oil itself. NFTRH’s original rally target was around the down sloped SMA 200. Oil is dragging the CRB up along with it, as they ride the waves of hype. The thing about geopolitical hype is that unlike an emotional grab for gold under that canard, very real decisions by very real governments can have very real (if temporary) supply/demand effects on the flow of oil.

crude oil

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