{"id":3370,"date":"2014-12-21T20:34:25","date_gmt":"2014-12-22T01:34:25","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3370"},"modified":"2014-12-21T20:37:37","modified_gmt":"2014-12-22T01:37:37","slug":"oftwominds-charles-hugh-smith-maybe-oil-goes-to-70-on-its-way-to-40","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3370","title":{"rendered":"oftwominds-Charles Hugh Smith: Maybe Oil Goes to $70 on its Way to $40"},"content":{"rendered":"

oftwominds-Charles Hugh Smith: Maybe Oil Goes to $70 on its Way to $40<\/a>.<\/p>\n

A retrace that fills open gaps and kisses the 50-day moving average surprises everyone who was confident oil was heading straight down to $40\/barrel.<\/i><\/span><\/p>\n


<\/span><\/b>When the conventional media ordains oil inevitably dropping to $40\/barrel, I start looking for something else to happen–like oil going to $70\/barrel.<\/b>\u00a0There are number of reasons this isn’t as farfetched as it might seem at the moment.<\/span>

<\/span><\/div>\n
1. The huge gap begging to be filled on the chart of the Energy Select Sector exchange-traded fund XLE<\/b>\u00a0and a bunch of other energy-sector stocks and etfs. Gaps like this usually get filled sooner rather than later.<\/span>

<\/span><\/div>\n
\"\"<\/span><\/div>\n

<\/b><\/span>2. A bounce back to the 50-day moving average on the WTI oil index around $73 would be unsurprising.<\/b>\u00a0As the old saying has it,\u00a0nothing goes down in a straight line<\/i>, and since oil fell in a parabolic curve down, some sort of retrace to a key technical level of resistance is to be expected.<\/span><\/div>\n
<\/p>\n

<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

oftwominds-Charles Hugh Smith: Maybe Oil Goes to $70 on its Way to $40. A retrace that fills open gaps and kisses the 50-day moving average surprises everyone who was confident oil was heading straight down to $40\/barrel. When the conventional media ordains oil inevitably dropping to $40\/barrel, I start looking for something else to happen–like […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[588,592,1775],"class_list":["post-3370","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil","tag-oil-price","tag-oil-price-collapse"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3370"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3370\/revisions"}],"predecessor-version":[{"id":3371,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3370\/revisions\/3371"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}