 Let's jump over to our man Teddy keg stat. We talked to Teddy every Wednesday folks at 40 past the hour You can reach Teddy every trading day at 4x dash trading dash unlock comm Teddy keg stat. Good morning. Good morning, Tommy So I like to kick things off with crude because it seems like every day we talked to you on Wednesdays man We got new highs and we got a new high today man of 89 72 I had the headline we talked about earlier OPEC agreeing on another gradual oil output But they almost can't keep up with what they want to in terms of supply. What's your take on this crude market, Teddy? We're gonna keep on climbing baby. Just keep on going higher and higher and higher So and as far as OPEC, you know, they could put they could pump up as much as they wanted to if they've really wanted to But they want to make money. Why would you try and increase supply at just under a hundred dollar? Barrel oil, you know, especially when it was trading in the 20s just a year and a half ago, you know So, I mean, right, I mean, why would you for sure? There's a reason why monopolies? Yeah are illegal exactly Right, and and you know, it's it's they're illegal in the US. We can't make them illegal across the whole World, but yeah, I mean they basically have a monopoly They all collude together to make sure that they get the best deal they can for their product And yeah, why would you want to flood the market when you're getting 90 bucks? And it looks like it's just going straight up from here. I agree man Sure Where do you want to kick things off on currency steady? We have some movement this week But what are you looking at at the top of the drive in the action in the forex market right now? Well, you know, if you look at what's happened since we talked last The markets are basically even including oil are right basically where they were when we had our conversation last week You know, so we had a breakout of the US dollar on Wednesday and Thursday last week Spiked high on Friday and now we're coming back now Everyone's always always likes to put doom and gloom on the dollar I really would view what's going on right now is a retracement And if you look at both the euro US dollar and the pound US dollar, which are the two biggest weights in the dollar index They're totally in line with the dollar index right now. So you've already had what is it a you're In between the 50% and the point six one eight retracement for both the dollar index the euro US dollar and the pound US dollar Also, you have the US dollar yen that has done the same. This is all Happening sign simultaneously today. Okay, and they all topped out or bottomed out versus the dollar on Friday Okay, so the dollar index remember how I've been saying you can't really rely on that You know because of the of all the differences of what's going on the imbalances going on around the different currencies in the Short run right now. We have them all working together. Okay. Yeah, this is a short run thing And I view it only that's why I'm saying don't try and pick a top or a bottom like okay I'll tell you what I'm not trying to pick a top and oil anytime soon I wouldn't try and pick a top in the dollar either remember that we're coming off of a higher move high Higher move highs higher move lows are indicative of what a bull trend same as the opposite for bears So all the currencies right now are trending. So they're all in a counter trend trade right now Okay, so I'm just trying to be very clear when it comes to no matter Which forks cross you're looking at even the Australian dollar US dollar. They're coming off of a major new move low Okay, so this is an upside correction that's going on, you know, it's not about dollar weakness right now I think it's a lot of profit-taking you got to remember as you push trends Why wouldn't the longer-term traders take some profit? That's how they nibble out and nibble back in You know because they've been in it for the whole time. They're working that trade, you know So I would be very cautious moving forward after today and tomorrow that it's very possible to see reversal in dollar strength come raging back Yeah, I mean I was jumping around to some three-year weekly charts And really you only got to go back about a year or so to see and the trend is pretty intact man I hear you I mean we have some bounces But you put this thing on a weekly going back about a year and I was jumping around whether it was the euro whether It was the yen where there's even the pound And yeah, you're seeing action, but basically you're seeing action within the trend Right on that longer-term basis for sure You had mentioned you're not selling on a crude so here's and I know you're looking for higher prices than a hundred bucks But let's say you have been long crude as investors. I'm sure we have investors out there that have been long crude What are you going to start to look at because I've started to do this in my head like okay I think you've been calling a hundred bucks We got to go back to the to the tape man and find when the first time you put out that hundred buck mark because it was I think it was January I think it was January every year ago was around then little it was wrong to you man heck of a call and it's still going So let's say we make it to a hundred bucks What do you start looking at and I know you've said previously if people listening that you're looking for much higher prices than that But what do you start to look at in that market Teddy as we get to a hundred bucks? That maybe like you're talking about people nibbling in the forex market to people start nibbling and maybe selling up there Or what are you looking as we maybe approach those levels that seem I don't want to call them inevitable because we know how The market goes but that is where the trend is going right now for sure sure. That's you know what that's a fantastic question Now when it comes to the oil, I think definitely once we approach this 95 to 105 area We're hitting that threshold. I mean remember that oil has been up at 150 a barrel before Okay, and you think about the price of gas when it was there Especially the state like Illinois we have higher taxes on our gas than we did 20 years ago Okay, 15 years ago So just that point alone as gas gets or as oil preaches gets above a hundred dollars and stuff like that Inflationary price point right there restricts the economy then you throw in the inflation We already have and how it's going to compound even more and solidify the inflation of goods and services That this is going to start to really put a lag on the economy You know I really think the people are going to start tightening up their bootstraps because one the free money is over Time to pay the piper and everything's getting more and more expensive So I think you're going to see you know how everything is opening up I don't think people are going to be going out as much as you think you know I mean it's going to be very expensive moving forward through the next at least no matter what there's not going to be a Retraction or any type of deflation for at least six months in the economy Okay, so as we come into summer when you think everyone's going to break out and go outside I think we're going to see what we saw during COVID of 20 of 2020 You're going to see a lot of people having parties in their backyard. They're not going to be going out to restaurants They're just not you know, you can't afford it. Yeah, you know I mean it's it's a sticker shock everywhere and it's not going to get any better anytime soon You know, I'm now here's the thing though. If oil Retraces solidly off of you know, I mean, here's the thing if Biden would reverse January 20th of 2021 With this to just would change overnight and literally within months The oil factor wouldn't be there anymore because we would see what crude oil trading at 3540 dollars a barrel It would try if you what what was the if what would happen if he would overturn everything that he did on January 20th of 2020, you know the mandates against the oil industry You said 2021. I suppose you're 2021. I'm sorry 2021 So unless that happens, which that would retract oil, but that's not going to happen So unless we become a big producer of oil again and start pumping it out there for us You know build up our stocks really quickly and that would retrace things But that's the only factor that would do that, you know So otherwise we're gonna hold when we're at and we'll be at 150 in another year, you know That's not a high and that would only only be like a 45 to 50 percent appreciation from where we're at now Not as big as what we've seen in the last year, you know We've seen more than a hundred percent price increase in oil, you know, we've seen 300 percent, you know So yeah, just if you look at it, we're actually slowing down, but we're slowing down into a buffer zone It's gonna be really hard on the economy, you know And remember I've been telling you for months I went back in the fall I'm like the major economic numbers are now the numbers to watch unemployment, you know I mean CPI, PPI. These are things that matter. So thanks a lot guys. Have a good week Teddy man, great great segment man. I appreciate it always on Wednesday's folks Check out Teddy's website 4x-treating-unlock.com can't wait to see where we are next Wednesday Teddy always Quite an eventful Yeah, and still going to 122 there we go folks. We'll talk to the next Wednesday