Spartacus
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Not anywhere near as gay as yours probably.
I saw this on the BBC news website today. I knew fuel duty/vat was a large proportion of the cost of petrol, but I didn’t realise quite how much.
Yes, I suppose the Treasury stands to do quite well out of general inflation with the VAT return increasing right across the basket of all essential goods, not just fuel. It’s a convenient stealth tax now it’s payback time for COVID.What's more is that as the fuel price increases so does the VAT take. That 5p/l reduction in fuel duty has been more than made up for, in terms of government revenue, by the increased VAT. They could take another 5p/l off and still be in profit. So all of this, "we can't do anything because we don't have any money", isn't quite true.
Crude oil is sharply down today (almost 5%) and is now trading at $104 per barrel (down from its March high of $126). If it fails to hold this level, next stop will be c. $93 ...
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@Froddy using your skills and talent what do you think, and i stress 'think' oil and gas will do in the future? Granted, no one can predict this with any certainty but should we be looking at fixing our energy bills?
Natural gas is painting a very similar picture (see below) - both oil and gas are at "inflection points", or key decision areas. If price holds these key levels, and if we are witnessing Wyckoff distribution, this could go on for a bit longer with price trapped within a range before ultimately rolling over. Trouble is, we just don't know if or when that will happen.@Froddy using your skills and talent what do you think, and i stress 'think' oil and gas will do in the future? Granted, no one can predict this with any certainty but should we be looking at fixing our energy bills?
My take on DXY (the $US index) is that it has completed a very bullish rounding bottom pattern on the weekly chart; however, it's at short-term exhaustion risk as price is sitting at the top of the Keltner Channels (the wavy blue lines), with evidence of bearish RSI divergence. The probabilities favour a reversion to the mean (the thick purple line) by way of short-term correction. Doesn't mean it's going to happen! ...Yes but meanwhile USD becomes stronger
They're thinking whether it's a good time to buy or sell Maseratis.This thread is an interesting soundbar as it shows how concerned people are.
It’s a Maserati forum.
I wonder what’s going on,on the remortgage, refinance and restructure forums.
That sounds interesting. Could you put that in plain English for Mr Thickie, here? Short or long term pain? ThanksMy take on DXY (the $US index) is that it has completed a very bullish rounding bottom pattern on the weekly chart; however, it's at short-term exhaustion risk as price is sitting at the top of the Keltner Channels (the wavy blue lines), with evidence of bearish RSI divergence. The probabilities favour a reversion to the mean (the thick purple line) by way of short-term correction. Doesn't mean it's going to happen! ...
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What don't you understand Wyckoff distribution or Keltner Channels???? I'm disappointed...That sounds interesting. Could you put that in plain English for Mr Thickie, here? Short or long term pain? Thanks
Price rarely goes straight up or straight down - there are ebbs and flows to price action. At the moment the $US is sitting at an extended level, so is due a (short) pullback to catch its breath before (probably) resuming its journey to the upside. The chart is bullish, so long-term pain appears the more probable outcome.That sounds interesting. Could you put that in plain English for Mr Thickie, here? Short or long term pain? Thanks
Price rarely goes straight up or straight down - there are ebbs and flows to price action. At the moment the $US is sitting at an extended level, so is due a (short) pullback to catch its breath before (probably) resuming its journey to the upside. The chart is bullish, so long-term pain appears the more probable outcome.
However, there's a possibility that price is forming a double-top on the monthly chart (below). We are just one week away from the current monthly candle closing, and price has risen to a new high. This has the appearance of a bullish breakout. However, Big Money likes to play tricks in this rigged casino, so sometimes it marks up price to fool the trading public into buying on the breakout before taking the market lower. The mark up also takes out the stop losses of those who were short. This happened last month if you look at the preceding candle. This is a liquidity raid, which is another possibility. If price fails here, a "double top" will look likely, and this typically precedes a trend reversal.
Powell is testifying at 2.30 pm today - this is highly likely to cause volatility throughout the markets and may be a catalyst for a dollar continuation or, alternatively, retreat. The markets will be looking for any hint of policy shift or softening. The recent price action in crude and gas is clearly pertinent to the inflation narrative.
So, in answer to your question, my bias is towards a stronger dollar, but be aware of the potential for a retreat from its current level. We'll discover our fate very soon ...
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