Crude Oil Pushing Resistance

On the subject of rising inflationary expectations, the $5, eight percent climb in Crude Oil prices in the past week could be one of the reasons that Gold is lifting, and that long rates are lifting as well.

That said, however, let's notice on my attached Weekly Chart of NYMEX Oil that the current upside thrust is smacking into its 3-1/2 year down trendline for the second time in the past three months, which must contain the upmove to avert continuation that tests and likely hurdles the 1/25/18 two year recovery high at $66.66, possibly in route to $75.00 thereafter, which certainly will catch the eye of the "reflationistas."

3 21 18 Weekly Crude Oil GIF
3 21 18 Weekly Crude Oil GIF

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