🛢️ CRUDE OIL - Lower and Inflation too 🍂

Been a while since I last posted an oil chart so here we go:

79-80$ could be destination next for WTI Crude. Hope you like the chart.

I had posted this the last time: 'Pray for Lower' explaining how Oil prices affect Inflation:
Ever since Prices have eased and so has inflation.. superb!

Let's go with the basics again.

How does crude oil affect inflation?
Crude oil is a major economic input, so a rise in oil prices contributes to inflation, which measures the overall rate of price increases across the economy. Inflation as measured by the annual gain in the U.S. Consumer Price Index (CPI) set a 40-year high in March 2022 amid COVID-19 supply disruptions.


Correlations:

Expensive energy = Inflation

Inflation brings Rate Hikes and tightening

Rate Hikes affect economic Growth

Less Growth brings Recession

= Expensive Oil means Indices Lower

ps. Indices Lower = BTC and Crypto also Lower

Keep our eyes on Oil .

One Love,

the FXPROFESSOR