Latest / Financial Survival Network / Oil, Gas, and the AI Effect - Michael Moor #6342

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Oil, Gas, and the AI Effect - Michael Moor #6342 · Financial Survival Network

0:00
Speaker 1: You know all this stuff with AI coming out, there's
0:03
Speaker 1: just going to be more and more demands on energy. Obviously,
0:06
Speaker 1: natural gas is used to produce electricity on levels, so
0:09
Speaker 1: I think at some point despite other fundamental I mean,
0:13
Speaker 1: obviously fundamentally, there's gonna be a lot more natural gas
0:15
Speaker 1: you have put out there too under this administration.
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0:46
Speaker 3: And welcome you are listening to the Financial Survival Network.
0:50
Speaker 3: I'm your host, Carrie Lutz. And well, these markets have
0:54
Speaker 3: been volatile, watching the gold oil oil trading at under
0:59
Speaker 3: sixty bucks a barrel. Who would ever believe that that
1:02
Speaker 3: could happen? And yet here we are and get a
1:07
Speaker 3: better grasp of it. Our good friend Michael Moore from
1:11
Speaker 3: More Analytics is with us today. Michael, welcome back. So hey,
1:16
Speaker 3: interesting interesting markets here, aren't they?
1:20
Speaker 1: Yes, Kerry, thank you very much for having me back
1:22
Speaker 1: on your show. I appreciate it always.
1:26
Speaker 3: So where should we start? Should we start with oil?
1:29
Speaker 3: We always like oil.
1:30
Speaker 1: Okay, start off with the crew oil. We had been
1:34
Speaker 1: in quite a slide from late September from sixty five
1:39
Speaker 1: to seventy seven to brow down to fifty five ninety
1:41
Speaker 1: six to barrel, but we turned bullish a couple of
1:44
Speaker 1: days ago. The trade above fifty seven forty three, I said,
1:48
Speaker 1: projected this upward, and we've seen four dollars and forty
1:51
Speaker 1: four cents of that so far coming into today. And
1:54
Speaker 1: then we broke back above a significant pattern at sixty nine,
2:00
Speaker 1: which are also warns of continued strength. We've seen about
2:04
Speaker 1: a dollar seventy eight of that so far, so I
2:06
Speaker 1: feel we're probably going to see continued strength in general
2:10
Speaker 1: from that in.
2:10
Speaker 3: The days ahead.
2:11
Speaker 1: If we were to fail back down through that formation,
2:13
Speaker 1: which is going to commit a sixty oh eight through tomorrow,
2:16
Speaker 1: then that would likely bring back in renewed pressure. But
2:20
Speaker 1: I would also note that the R bomb, which is
2:24
Speaker 1: another word for unleaded gasoline, so when crude oils, when
2:28
Speaker 1: crude oil is brought in, it is put through a
2:30
Speaker 1: refinery and it's broken out into two amongst other products.
2:34
Speaker 1: The two main products that come from it are unleaded
2:37
Speaker 1: gasoline and heating oil, which are put through a process
2:41
Speaker 1: called cracker and crack those out of there. But those
2:43
Speaker 1: are the main drivers for the demand of the crude oil,
2:48
Speaker 1: and more recently the demand for heating oil has really
2:51
Speaker 1: been leading the upside.
2:52
Speaker 3: Mm hmm. That mean we're going to have a cold
2:54
Speaker 3: winter in the Northeast.
2:57
Speaker 1: Not necessarily, I don't. I know this may sound odd,
3:01
Speaker 1: even though I analyze these every day and make some
3:04
Speaker 1: of the larger predictions in the industry, don't really pay
3:08
Speaker 1: attension a lot to the fundamentals because the technical analysis
3:12
Speaker 1: of price action gives you signals in the market ninety
3:17
Speaker 1: percent of the time earlier than the fundamentals will present themselves,
3:21
Speaker 1: even though the fundamentals are the very underpinnings of why
3:25
Speaker 1: these move.
3:26
Speaker 3: Okay, all right, so interesting though, what I find really
3:33
Speaker 3: interesting is that the prices went down in the first
3:37
Speaker 3: place in the face of inflation. Is this market pressures
3:44
Speaker 3: that are causing it to go down or is it
3:46
Speaker 3: a manipulation of some sort.
3:49
Speaker 1: Well, there's a lot obviously, with this new administration and
3:52
Speaker 1: stuff like that, opening up a lot of avenues for
3:57
Speaker 1: our energy to be put out there, especially eric and energy.
4:00
Speaker 1: So there's a general expectation that energy prices would go down,
4:07
Speaker 1: being that there'd be a lot more supply out there.
4:10
Speaker 1: But that's obviously that can be interrupted at any time
4:14
Speaker 1: due to geopolitical events or.
4:20
Speaker 3: Oh yeah, we know about them. What the geopolitical events
4:25
Speaker 3: they happen, also known as black swans, right, or gray
4:30
Speaker 3: swans or even white swans exactly.
4:34
Speaker 1: And then market structure has its own corrective tendencies. The
4:38
Speaker 1: heating oil actually was the one of the main reasons
4:43
Speaker 1: why it's very important to analyze the unleaded gasoline and
4:48
Speaker 1: the heating oil when you're looking at the crude oil
4:52
Speaker 1: is because unleaded gasoline and heating oil their price action
4:56
Speaker 1: will lead the price action of crude oil eighty to
4:59
Speaker 1: n tinety percent of the time. So, for instance, the
5:04
Speaker 1: heating well was the first one that suggested that there
5:06
Speaker 1: was going to be a turnaround in the market because
5:09
Speaker 1: it broke back above a pattern on October seventeenth, at
5:15
Speaker 1: around two thirteen fifty five. And it's sewer that two
5:20
Speaker 1: thirteen forty three that warned of renewed strength, and that's
5:25
Speaker 1: rallied now up to two thirty five sixty seven at
5:29
Speaker 1: other multiple levels, so that's still bullish. It also left
5:35
Speaker 1: a medium bullish reversal below yesterday that warned of higher
5:38
Speaker 1: trade for days. So this pronounced spike up here is
5:42
Speaker 1: pretty significant spike to have in just a couple of days.
5:45
Speaker 1: And the R bob again, which is another word for
5:50
Speaker 1: unleaded gasoline, that also left a medium bullish reversal below
5:56
Speaker 1: yesterday which warned of higher trade for days, and that
6:03
Speaker 1: turned bullish on the break above six twenty seven, and
6:11
Speaker 1: now we're treating up at one eighty eight twelve, right,
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Speaker 1: pretty pretty sizeable move for just a couple of days.
6:21
Speaker 3: Okay, all right, So what else you got for us today? Michael?
6:26
Speaker 3: You got like it's been a while since we last spoke,
6:29
Speaker 3: and uh, I know you've been busy. What else are
6:32
Speaker 3: we looking at? Well?
6:34
Speaker 1: The Brenton here also just talking about the London markets.
6:37
Speaker 1: That's left the medium bullish reversal below as well, and
6:43
Speaker 1: has been bullish since the break above sixty one fifty.
6:49
Speaker 1: So we've seen our sixty one fifty five. We've seen
6:52
Speaker 1: four dollars and fifty seven cents of that so far,
6:55
Speaker 1: and then it broke above another significant level, that sixty
7:01
Speaker 1: four to twenty nine, which also warns of strength for days.
7:06
Speaker 1: I guess I don't really have to go over the gas. Well,
7:08
Speaker 1: it's very similar to our heating oil. But if you'd like,
7:11
Speaker 1: I could, uh, yeah, would you.
7:13
Speaker 3: I've just always had a little interest in that gas myself,
7:19
Speaker 3: the way the markets evolved from take or pay contracts,
7:23
Speaker 3: from the days when not gas was more expensive for
7:27
Speaker 3: BTU than home heating oil was, and the way that's changed.
7:32
Speaker 3: So you know, that market's evolved, and I'm always fascinated
7:36
Speaker 3: by it. I don't know quite why it has, but
7:38
Speaker 3: it certainly has.
7:39
Speaker 1: Right, Yeah, well, I can get into the natural gas.
7:42
Speaker 1: I'm sorry I had said gas oil before. It sounds
7:45
Speaker 1: a little bit more like natural gas.
7:47
Speaker 3: Put out gas oil, Okay.
7:48
Speaker 1: Gas oil is, you know, basically the London equivalent of
7:52
Speaker 1: heating oil.
7:52
Speaker 3: Sure.
7:53
Speaker 1: Sure, But the natural gas I can climb into with
7:56
Speaker 1: you if you like. So the natural gas. You've had
7:59
Speaker 1: me on your show a number of times in the
8:02
Speaker 1: past couple of years, but we've been barishing there from
8:05
Speaker 1: eight dollars and twenty cents point eight and we've seen
8:08
Speaker 1: six dollars of sixty eight cents of that to the downside,
8:10
Speaker 1: which is a very significant move. And then more recently
8:16
Speaker 1: we got bullish. We held a macro exhaustion level down
8:22
Speaker 1: below at two ninety one twenty with a two eighty
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Speaker 1: nine thirty low, and I've rallied six hundred and seventy
8:29
Speaker 1: nine ticks from there into a bullish correction. And the
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Speaker 1: bullish correction, I said, was bear with me against the
8:42
Speaker 1: move down from four point fifty seven to thirty, and
8:44
Speaker 1: then possibly against the move down from five thirty nine
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Speaker 1: to sixty. So we had a minimum target to the
8:49
Speaker 1: upside of three forty two thirty, which we took out,
8:52
Speaker 1: and our next target is three sixty five eighty and
8:55
Speaker 1: we became shy of that by three point fifty seven
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Speaker 1: to twenty and then roll over over today. Currently right now,
9:02
Speaker 1: it's bearsh You just broke below a formation that came
9:04
Speaker 1: in at three forty two ninety, which warns of pressure
9:09
Speaker 1: likely for days. If we were break back above where
9:12
Speaker 1: that line comes in at three forty two ninety minus
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Speaker 1: point four of a tick per hour starting at eleven
9:19
Speaker 1: o'clock PM, that would warn to we need strength. I
9:22
Speaker 1: do think that.
9:22
Speaker 4: This is likely going to be a pullback here within
9:26
Speaker 4: a bullish correction against one of those moves down from
9:31
Speaker 4: either four point fifty seven thirty or five thirty nine sixty,
9:36
Speaker 4: because we're still pretty early into this.
9:39
Speaker 1: Also, structurally, taking out three fifty eight to fifty would
9:43
Speaker 1: be key in the market because that is basically the
9:46
Speaker 1: top of this grinding basing market that we've been in
9:51
Speaker 1: since mid August. So this may roll over a bit,
9:55
Speaker 1: drift sideways a bit, and then if we start heading
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Speaker 1: up to take out those levels, it'll leave it and
10:01
Speaker 1: even an even more healthy base where well symmetrical base
10:07
Speaker 1: below for this to then launch more to the upside. Also,
10:11
Speaker 1: and again I'm not a big fundamental person, but you know,
10:15
Speaker 1: all of this stuff, with AI coming out, there's just
10:18
Speaker 1: gonna be more and more demands on energy. Obviously, natural
10:22
Speaker 1: gas is used to produce electricity on levels, so I
10:25
Speaker 1: think at some point, despite other fundamental I mean, obviously fundamentally,
10:29
Speaker 1: there's gonna be a lot more natural gas being put
10:32
Speaker 1: out there too under this administration or allowed. So it'll
10:35
Speaker 1: be interesting to see the dynamics between this too. But
10:37
Speaker 1: I think the demand for it could be very significant
10:42
Speaker 1: in the next couple of years. Barring any other significant
10:48
Speaker 1: technological advance to produces some other type of energy.
10:52
Speaker 3: Right, all right, so okay, onto the next Okay, So.
10:57
Speaker 1: Then if you'd like, we could switch modes here and
11:00
Speaker 1: jump into the SP five hundred next, okay, and the
11:06
Speaker 1: S ANDPS bear with me just a minute. So again,
11:09
Speaker 1: I've been on your show for periodically for quite some time,
11:12
Speaker 1: so you know that in past shows I've been bullish
11:16
Speaker 1: in the SMP five hundred innext since holding a macrosaush
11:20
Speaker 1: from below at thirty five oh two, and we've rallied
11:23
Speaker 1: three thy three hundred and ten point twenty five points
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Speaker 1: into this bull trend. That a lot of other bullish
11:30
Speaker 1: calls since then, and then more recently I just put
11:35
Speaker 1: all that bullishness on hold. Yesterday. The trade back below
11:40
Speaker 1: sixty eighth four twenty five has brought in one hundred
11:45
Speaker 1: and thirteen point five of pressure, and if we see
11:51
Speaker 1: another break below sixty six seventy seven eighty one zero
12:00
Speaker 1: point five to nine per hour starting at eleven thirty,
12:04
Speaker 1: that a war of additional pressure. Now, one big thing
12:07
Speaker 1: I would mention in the S and P five hundred
12:09
Speaker 1: and next is we have a very significant formation that
12:12
Speaker 1: has been building in here, and this formation has been
12:16
Speaker 1: building since July, and so where we were set up
12:21
Speaker 1: up here is if it fails down through it's already
12:25
Speaker 1: failed back below a formation up here which is bearish,
12:29
Speaker 1: and if it fails down below that other formation just below,
12:32
Speaker 1: which I said would also be bearish, that'll set up
12:34
Speaker 1: another level to get short below, and then a more
12:37
Speaker 1: significant level down below is going to be at sixty
12:41
Speaker 1: six h one forty five plus twenty six per hour
12:48
Speaker 1: starting at eleven thirty pm, and a decent break below
12:51
Speaker 1: there is going to project this downward one hundred and
12:54
Speaker 1: ninety five minimum two hundred and seventy five plus maximum,
13:00
Speaker 1: and that, like I said, it's very well formed formation.
13:02
Speaker 1: You could see a good deal more than that. That'll
13:06
Speaker 1: also be a very pivotal area. If we were to
13:09
Speaker 1: break below that formation decently and back up through it decently,
13:14
Speaker 1: that would mourn of decent strength. Now, when I say decently,
13:17
Speaker 1: that is not supposed to be a vague term. It's
13:20
Speaker 1: just a term that I use. I to my clients.
13:24
Speaker 1: I send out what that decent number is every day.
13:27
Speaker 1: It changes each day, but today it's thirty four point
13:31
Speaker 1: five points. So in other words, if it broke below
13:34
Speaker 1: that line by thirty four point five points, that would
13:37
Speaker 1: be your confirmation of being short below it, and it
13:40
Speaker 1: would have to break back above the line by thirty
13:42
Speaker 1: four point five points to negate that bias on the
13:45
Speaker 1: downside and switch the bias back to lamm.
13:48
Speaker 3: Gotcha, all right?
13:51
Speaker 1: All right, So over to the gold if you like it.
13:55
Speaker 3: Yeah, let's go to the gold. Okay.
13:57
Speaker 1: So the gold had a sizeable correction over the past
14:02
Speaker 1: couple of days.
14:03
Speaker 3: Certainly did that.
14:04
Speaker 1: Yeah, And I'd said in here, so in the gold. Also,
14:08
Speaker 1: I've been on your show for a while, so you know,
14:10
Speaker 1: I've been bullish since August sixteenth of twenty eighteen. With
14:14
Speaker 1: the break above eleven eighty three, then we've seen three
14:17
Speaker 1: two hundred and fourteen per ounce to the upside. A
14:21
Speaker 1: lot of other bull calls in here, but more recently
14:23
Speaker 1: I just put those on hold. I warn the trade
14:27
Speaker 1: back below forty three eighty nine sixty would likely bring
14:30
Speaker 1: in pressure. We've seen three hundred and sixty eight point
14:32
Speaker 1: four per ounce from there, and then the trade below
14:36
Speaker 1: forty one to ninety six. I also said, warns of
14:38
Speaker 1: pressure possibly for two hundred plus. We've only seen one
14:42
Speaker 1: hundred and seventy four point eight of that, but still
14:45
Speaker 1: a good portion of it, and then the trade below
14:48
Speaker 1: forty one twenty three forty awesome word to pressure. We've
14:52
Speaker 1: seen one hundred and two point two of that, But
14:54
Speaker 1: we are testing that line as we speak, which comes
14:58
Speaker 1: in at forty one thirty six fifty plus per hour
15:03
Speaker 1: starting at eleven twenty pm. That's not a line how
15:06
Speaker 1: we get long above. I would note though, that it's
15:10
Speaker 1: eleven twenty four right now. Gold closes it one thirty
15:14
Speaker 1: pm Eastern Standard time. And if we leave a maintained
15:18
Speaker 1: gap higher in there on the day, which it looks
15:20
Speaker 1: like there's a good likelihood we will, that would put
15:23
Speaker 1: the bearishness on hold. What that means is today the
15:27
Speaker 1: current official session, which would the low, would be forty
15:31
Speaker 1: one thirteen seventy and yesterday's high. I don't want to
15:36
Speaker 1: use the term pit session because obviously we don't have
15:38
Speaker 1: a pit open up anymore, but the official session of
15:41
Speaker 1: when it's open. Yesterday's high was forty one oh one
15:45
Speaker 1: right we currently is forty one thirteen seventy. If that
15:48
Speaker 1: gap between price action remains, that would suggest that this
15:53
Speaker 1: is bull's.
15:54
Speaker 3: Short term Let me just kind of makes sense, right,
15:58
Speaker 3: What's that kind of make sense, doesn't it?
16:01
Speaker 1: Yeah? Yeah, exactly, And I think you know, so on
16:05
Speaker 1: a very macro level, let me just jump macro here,
16:10
Speaker 1: since you know, September of twenty twenty two, this is
16:15
Speaker 1: basically holding the last final macro possible exhaustion that it
16:20
Speaker 1: could hold up at forty three fifty one. Although it
16:23
Speaker 1: violated to it quite a bit up to forty three
16:25
Speaker 1: to ninety eight, it's generally holding it, and we smack
16:29
Speaker 1: down a bit. If this was going to correct in
16:34
Speaker 1: a more significant nature, you know, that would have to
16:37
Speaker 1: be over quite a period of time more than this.
16:41
Speaker 1: So we may see if we don't take out the high,
16:45
Speaker 1: we may see some some decent volatility here as or
16:51
Speaker 1: if this corrects to the downside. If it does take
16:54
Speaker 1: out that high, it just suggests that this is continuing
16:57
Speaker 1: into continuing in a more macro.
17:01
Speaker 3: Trem gotcha, all right? All right? What else we got? Bitcoin? Yep?
17:09
Speaker 1: So bitcoin again, I've been on with you for quite
17:14
Speaker 1: a while, so I'm just going over to the macro
17:16
Speaker 1: stuff here. I've been bullish in here's fince the break
17:18
Speaker 1: above sixteen two seventy five, So we saw one hundred
17:21
Speaker 1: and ten thousand, nine hundred and sixty five per coin
17:24
Speaker 1: from there, with a lot of other bullish calls along
17:27
Speaker 1: the way. Then they got barish on the break below
17:29
Speaker 1: one twenty four to twenty eight, and we saw twenty thousand,
17:32
Speaker 1: four hundred and eighty three per coin below there, and
17:36
Speaker 1: a couple other bearish calls on.
17:38
Speaker 3: The way down.
17:39
Speaker 1: Those are currently on hold, and we just held exhaustion
17:43
Speaker 1: on the down side at one of four to two
17:46
Speaker 1: oh three to one oh three five fifty eight, with
17:48
Speaker 1: at one oh three seven forty five low and rallied
17:51
Speaker 1: ten thousand, six hundred and thirty five. We also left
17:54
Speaker 1: the gap higher in place on October twentieth, So we
17:59
Speaker 1: do have a four meat just above that comes in
18:01
Speaker 1: at one eleven three eighty seven minus fifty four per
18:05
Speaker 1: hour starting at eleven eleven o'clock AM Eastern Standard time.
18:10
Speaker 1: A decent break above there is going to project this
18:13
Speaker 1: upward about six thousand minimum, right, could be more like
18:22
Speaker 1: just give me a second lik here, and it could
18:25
Speaker 1: be more in the tune of twelve thousand. We were
18:31
Speaker 1: to break above that decently and back down through it decently,
18:34
Speaker 1: that would warn a decent pressure and decent in there
18:36
Speaker 1: today is one and seventy five, and there's a minor
18:43
Speaker 1: formation below that comes in at six, and that increases
18:48
Speaker 1: by actually, you know what, scratch that formation. I don't
18:52
Speaker 1: really like the whittings drawn, but there is one below
18:54
Speaker 1: here if we take out, if we if we leave
18:56
Speaker 1: a maintain gap lower intact tomorrow, that would lead a
19:01
Speaker 1: minor barish reversal above that would warrant reneed pressure to
19:06
Speaker 1: the downside. All right, the thing on a macro level
19:10
Speaker 1: in here, Let's just give me one more second. This
19:14
Speaker 1: possibly could possibly be in a bearish the beginnings of
19:18
Speaker 1: the bearish correction of the move up from fourteen nine
19:23
Speaker 1: to twenty five. But what does that mean? Let me
19:28
Speaker 1: just give you a little bit more teath to that.
19:31
Speaker 5: It means that if we're gonna correct here, then it
19:36
Speaker 5: could correct right up into October twenty twenty six, with
19:40
Speaker 5: wide sideways downward more on October.
19:44
Speaker 3: Huh really for a year? Yeah, I mean really run.
19:47
Speaker 1: Up from from November of twenty twenty two, that's taken
19:54
Speaker 1: from that all the way up to October twenty five. Yeah,
19:58
Speaker 1: about three years. So a correction of a year wouldn't
20:02
Speaker 1: be out of the realm of possibilities. Of course, anything
20:05
Speaker 1: can happen in here. I'm talking pretty macro out there.
20:08
Speaker 3: Yeah, do you think good's possible that we could see
20:11
Speaker 3: a short squeeze in.
20:14
Speaker 1: Bitcoin if it takes out that formation above? You know,
20:18
Speaker 1: I think you'd see a short squeeze. Again, my analysis
20:22
Speaker 1: is for the most part geared fairly short to medium term.
20:29
Speaker 1: So you know, I usually have traders in the direction
20:34
Speaker 1: of what the market's going within two to three days
20:37
Speaker 1: of a market turning point.
20:40
Speaker 3: How will we know, so you said, when it takes
20:44
Speaker 3: out a particular level, which level we talking about that
20:46
Speaker 3: it needs to take out?
20:48
Speaker 1: So on the upside, I mean, I'm already bullish right
20:51
Speaker 1: now short term, as I said, And on the upside
20:56
Speaker 1: if we take out.
21:00
Speaker 3: Just give me a sick.
21:00
Speaker 1: It takes some eight to calculation.
21:02
Speaker 3: Not Hey, you're on a computer, you're doing this live.
21:04
Speaker 3: We appreciate, we appreciate the moment by moment market commentary. There.
21:10
Speaker 1: Thank you appreciate what eleven three eighty seven mayas fifty
21:15
Speaker 1: four per hour starting at eleven o'clock AM Eastern Standard times.
21:19
Speaker 1: We break above there by one thousand, eight hundred and
21:21
Speaker 1: seventy five. That would confirm the bullishness above it, not
21:25
Speaker 1: that you have to buy right there. You go buy
21:26
Speaker 1: it and to pull back back to the line, and
21:27
Speaker 1: your stop is going to be one thousand, eight hundred
21:29
Speaker 1: and seventy five back below wherever the line comes in
21:32
Speaker 1: keeping and it decreases by fifty four per hour starting
21:36
Speaker 1: eleven o'clock, and so that's your projector that would have
21:39
Speaker 1: a minimum projection to the upside of six thousand in
21:43
Speaker 1: a maximum of eleven to twelve thousand plus. When I
21:46
Speaker 1: say a maximum of one, you know, eleveny twelve thousand plus.
21:50
Speaker 1: That means that the formation itself has its own projections.
21:56
Speaker 1: But obviously, if the market is trending in that direction,
21:58
Speaker 1: you could see far more than what the projections of
22:02
Speaker 1: the formation give you.
22:04
Speaker 3: Right, gotcha? Interesting? Interesting?
22:08
Speaker 1: And likewise, if we break above this line decently and
22:11
Speaker 1: back down through it decently, it would be a good
22:14
Speaker 1: short And then you put your stop and seventy five
22:18
Speaker 1: back above the line. Now, as you get long above
22:21
Speaker 1: the line, since the line is decreasing each hour, your
22:25
Speaker 1: stop is actually going against you and widening out against you.
22:29
Speaker 1: If you break above there decently and back down through
22:31
Speaker 1: it decently and gets short. Then your stop is actually
22:33
Speaker 1: moving in your favor because it's moving down above the
22:36
Speaker 1: line that you were short below.
22:38
Speaker 3: Got it, Got it all right? So uh all right,
22:44
Speaker 3: So it looks like we're kind of like in a
22:45
Speaker 3: little holding pattern here.
22:47
Speaker 1: Yeah, but it shouldn't. Shouldn't be very long right here,
22:51
Speaker 1: just chopping the chopping sideways for a number of days.
22:54
Speaker 1: It should be should be breaking out of here pretty soon.
22:57
Speaker 3: Okay.
22:58
Speaker 1: My feeling is I I wouldn't be surprised to see
23:01
Speaker 1: it rally a bit and then roll back over. But
23:03
Speaker 1: that's just that's just off the cuff, get a pop up,
23:07
Speaker 1: and then it roll over them.
23:09
Speaker 3: All right. So anything else you want to cover, not really,
23:13
Speaker 3: unless you have any questions on that.
23:14
Speaker 1: I mean I could, I could get into all kinds
23:17
Speaker 1: of heavier detail on you know, spreads and the and
23:22
Speaker 1: the energies and stuff, but I don't. I'm not sure
23:24
Speaker 1: if you're.
23:25
Speaker 3: If I think we're good. I think we got to what.
23:28
Speaker 3: I think we got what we came for.
23:31
Speaker 1: I would just say this though, for for your audience.
23:36
Speaker 1: If you are trading crude oil as part of your portfolio,
23:43
Speaker 1: are you not looking at the r at the unletted
23:46
Speaker 1: gas and the heat oil. You are putting yourself at
23:50
Speaker 1: a great disadvantage because, for instance, my clients, I'll have
23:58
Speaker 1: them bullish the heating oil. I'll have them a long
24:00
Speaker 1: the heating.
24:01
Speaker 6: Oil instead of the crude oil, even though the crude
24:03
Speaker 6: oile is going up. Since the heating oil is leading
24:08
Speaker 6: the market movement, you're going to make more money in
24:11
Speaker 6: the heating oil than you would in the crude even
24:16
Speaker 6: having your risk coming.
24:17
Speaker 1: Out of the gate basically the same. So it Harbell
24:21
Speaker 1: ever wanted to have a great leading indicator of a
24:24
Speaker 1: market in the crude oil. Your leading indicators are the
24:28
Speaker 1: unletted gas or the heating oil, and you can determine
24:31
Speaker 1: those based off of spreads between them, which I do
24:35
Speaker 1: in a more technical level.
24:36
Speaker 3: So, so, how HI you think home heating oil can go?
24:42
Speaker 1: I don't really have much more of a projection for
24:44
Speaker 1: it from here. I'm just bullish right now. Actually I
24:49
Speaker 1: don't have a specific projection right here. I'm just bullish, gotcha.
24:56
Speaker 1: Sometimes I do have measured amounts. I mean, so your
24:58
Speaker 1: question is valid, uh, I just at this at this point,
25:02
Speaker 1: right now, I don't have a measured move.
25:04
Speaker 3: Like I do in the in the bitcoin understood understood?
25:09
Speaker 3: All right, Well, hey, we always appreciate you coming on, Michael.
25:13
Speaker 3: Just tell us how we can subscribe to your work
25:15
Speaker 3: where we find you and all that good stuff.
25:19
Speaker 1: Sure, I appreciate it. Yes, my website is more Analytics
25:23
Speaker 1: dot com. That's just spelled m o o R with
25:26
Speaker 1: no E at the end, so it's m o O
25:28
Speaker 1: R A N A L Y T I c S
25:33
Speaker 1: dot com. And you can look at the different products
25:37
Speaker 1: I have on there for energy or whatnot. And by
25:41
Speaker 1: the way, Carrie, if you, if you or your subscribers
25:45
Speaker 1: have ever have any want a an opinion here or
25:48
Speaker 1: there on the s P five hundred or goal to
25:50
Speaker 1: bitcoin or energies, you're always welcome the uh give me
25:54
Speaker 1: a call or just pulled me in real quick, and yeah, absolutely.
25:59
Speaker 1: I I do analysis every morning and I send that
26:02
Speaker 1: out to traders in the am prior to the open
26:08
Speaker 1: of the market every day. Those are actionable trading suggestions,
26:11
Speaker 1: and then in the afternoon I do a video podcast
26:14
Speaker 1: every day that I also send out to traders.
26:17
Speaker 3: All right, excellent, excellent, appreciate you coming on. Any questions
26:21
Speaker 3: for Michael myself, shoot me an email KL at Kerrie
26:25
Speaker 3: LUTs dot com and for all you interested, we're now
26:29
Speaker 3: just strictly substock only. No more running my own website.
26:34
Speaker 3: I did that for fifteen years, had enough of it.
26:37
Speaker 3: But I think the substock gives us so many different
26:40
Speaker 3: ways to keep in touch with you, to keep you
26:43
Speaker 3: up to date on these markets, and to really let
26:48
Speaker 3: you know what's happening in the world. Michael, it's always
26:52
Speaker 3: a pleasure. Appreciate you coming on and we will talk
26:55
Speaker 3: to you again real soon.
26:56
Speaker 1: Thank you very much. It's an honor. I appreciate it here.
26:58
Speaker 2: Thanks for listening. Carry lets this Financial Survival Network your
27:03
Speaker 2: solution to today's trying times. For the latest, go to
27:07
Speaker 2: Financial Survivalnetwork dot com. Financial Survival Network now more than
27:13
Speaker 2: ever