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Oil futures are now in a bear market, declined over 20%. The price is now showing up as a recession/stagnation based beatdown. Final price support at $94. OVX (oil volatility) is beginning to pick up.

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Oil is not showing any recessionary price markers in 2022, remains bid. 2020 was a recession when oil when into sub zero prices. Caught the oil swing trade from 106 to 108.

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G7 Russian oil caps on the way, may blow the price out to $200 a barrel. Putin could cut supplies before the cap. Trade On.

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Wheat futures from March 2021 to June 2022. Showing June harvests and its price correlation. Note the sell off in June 2022 as funds covered short positions. Price remains bid on Russian blockades of Ukrainian wheat exports.

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