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5 day cycle projection now 2800. Huge positive divergence in the 5 day cycle oscillator presages a helluva pop, but if they can't clear 2825, crash is on. Liquiditytrader.com

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Downtrending shport at 2814 on the hourly is bending. The next trend shport would be 2790, but sharply descending. If they can't hold 2800, the 5 day cycle projection would drop to around 2730. 

Visit Liquidity Trader for longer term outlook. 

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It has been two weeks since the administration announce new sanctions would be imposed on China for buying Iranian oil and I have not seen one story about what those sanctions are nor if China has continued to buy the oil. It seemed impossible to me they would stop but that nobody is asking or looking is bizarre and a measure of how stupid we have become.

I thought at the time of the announcement that it could blow up the trade talks. I mean how stupid would Xi be to sign a deal and then be slapped with new sanctions. Such would be a political disaster. I know nobody thinks the Chinese leadership doesn't have to play politics but they do. The cannot afford to be humiliated. By the way not buying Iranian oil would be a humiliation in itself. Iran is an important part of the whole BRI thing.

Now I could be all wet about the oil thing being a cause of the trade talk blow up and their reversal of a week ago but how are we to know if nobody asks. 

 

 

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