Oil is Crashing with Nick Santiago (Ep #377)

from Daily Market Wisdom with Nick Santiago

For more than 20 years, Master Trader Nick Santiago has been beating the markets. He’s made some incredible calls along the way and now he’s looking to spread the word. There’s no reason that the average trader should be coming up short. So now we’ve started a daily show to bring you up to date on the latest market developments. Nick will be sharing trades and concepts and discussing current trends.


1. Markets are pulling back today after another big rally yesterday. This Is actually good for the bulls as you do not want to go straight up in a parabolic run.

2. Everyone is watching the oil price as the Russia/ Ukraine conflict continues. Today, crude is trading up $5.00 to $114.50 a barrel. It is really difficult to see oil fall much with this war going on at this time. Earlier today it was reported that President Putin wants to get paid in Rubles for energy. He essentially backed stopped his currency and this should help Russia stabilize in the near term. The Russian stock market will reopen tomorrow.

3. Gold is higher today and that is the ultimate fear trade. So while it has pulled back it will likely hold up as long as this war goes on.

4. Bitcoin is breaking above resistance at 46,000 today on the futures chart. This is a very positive move, but a weekly close up here would be a major positive for crypto.

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