$OIL - We haven't seen a breakdown like this since April and if that support breaks it will be the lowest we've seen since the 2020 Covid breakdown. Some like to argue that it's a leading indicator for predicting recessions but also the opposite can be true when it's super high and inflation is high that spending/the economy can suffer more.
We are seeing a lot of alternative options for oil even though oil will probably remain king for quite some time. I know nuclear energy and other options are growing especially with the demand that AI will require.
I wish I had a crystal ball right now but I know looking back there will be some pretty obvious hindsight plays as to why OIL is suddenly on a pretty rapid decline.
