by Kimble Charting
The coronavirus crash within the spring of 2020 left crude oil and pure fuel costs decimated. An power disaster was however a distant thought as oil and fuel traded at multi-year lows.
Quick ahead to at present and what a distinction 18 months makes!
Costs have surged. Late final month, we highlighted the breakout in Pure Fuel costs, and at present we’re including Crude Oil to the combination.
In at present’s chart 2-pack, we marvel if the markets are “brewing up an power disaster?” Under are long-term “month-to-month” worth charts of Pure Fuel and Crude Oil.
As you’ll be able to see, Pure Fuel and Crude Oil are working on breaking above 12-year worth resistance at (1). Observe by to the upside can be regarding for power costs and shoppers (fuel on the pump and heating payments at residence!).
It is a vital intersection of time and worth for the power house. Keep tuned!
This text was first written for See It Markets.com. To see the unique put up CLICK HERE.