 Let's jump over to our man, Teddy Kegstad. You can reach Teddy every trading day at forex-trading-unlocked.com. We talk to Teddy every Wednesday at 40 past the hour. Talk a little bit of forex, talk a little bit of crude. Teddy Kegstad, good morning. Good morning, Tommy. I'm not sure if you caught the last segment. I was talking a little bit about production versus the targets of some of the OPEC plus countries that they're not quite meeting the numbers, Teddy, and there's probably very little incentive to do so. I got the chart accrued up here. If people have been listening, they know you're accrued both for a while. Quite a trend. We've got 93.60 this morning. Did you catch that last segment by chance? I did. I did hear you on that. And yeah, I mean, yesterday we had a nice little pullback in oil. It's just profit-taking. You know, I firmly believe that we're still going to keep on trudging higher. And as far as with OPEC, why would they care about increasing production? You know, you got to remember, competition breeds good pricing. We are no longer a global competitor when we were actually exporting oil that forced OPEC to also produce more oil because we were competing for the same dollars. Now they're not, you know. So and especially with everything that's going on with the Ukraine and Russia, there's no incentive whatsoever for any of the OPEC countries. I mean, it's not like there are allies. Yeah, not even close. What was your take yesterday and even as we're going on today in terms of geopolitical, right? We had easing of tensions, at least that was the discussion yesterday. Actions not really speaking to that. And now we have I thought it was quite a reaction yesterday just for a little Putin speak as in, you know, actions are really what matters here in the other market, loving the fact that that they put out on state media that they might be diplomatic or something. And then we get a little reversal today. It seems like troops are still there. What's your take on how that's influenced in the markets right now? Well, as far as my take on what they're doing, I think it's all puffery. It's all just a show, you know, as far as what Putin is doing. They're not going anywhere. You know, you got to remember the people that run the Ukraine now were the people that were kicked out of the Soviet Union right before it fell. These are the people when Putin was in the KGB, he pushed them out of their country, you know. So and besides, there's all kinds of takes on what's going on in the Ukraine. But the reality is the Ukrainians aren't being very good to their own people, you know. So that's a whole nother issue. Russia's not probably going. Would they like to take over the Ukraine? Of course they would. Are they going to move into Ukraine? Probably not. I think what they're doing is they're lining up their borders because they're sick of the violations by the EU countries. You got to realize NATO pushed. They're the ones that stoked the bear. They've been doing it for 30 years. Putin has put a line in the sand saying no more, you know. So is there do I like the guy? No, do I think he would if he could move in and take over as much land as possible? I think he would stretch the boundaries of the Russian Confederation, you know. But I don't think that's really what he wants to do. War doesn't serve a purpose for him. You know it serves a purpose, doing what he's doing and keeping the price of oil up. He's also got the EU by the, you know, throat as far as their energy. I was going to say, so taking that to the crude price for sitting in $95, do you see, you know, if you're trading crude right now, it's quite a reaction yesterday, even trading the growth stocks right now, man. The reaction yesterday alone, I thought was a little overstated for two, two and a half percent just on that type of rhetoric. But how do you see this crude market in particular? I mean, do you see all upside from that scenario? If he, you know, I don't see him pulling back either. So that's why I see, you know, continued pressure potentially on this market because that could be a disruption, man, if you really have something escalate over there. Sure. No, I absolutely see nothing but this bull keep on going, no matter what. The only thing that would change that is if we would overturn the mandate set by Biden when he went inaugurated, it's not going to happen. So unless we have, unless some other country all of a sudden becomes an oil producer out of fantasy land, you know, it's not going to happen because we're not dealing with our allies, we're dealing with our enemies. And the UK, they have no vested interest in pumping more oil either. You got to remember, they have oil all over the world. You know, it's not just offshore in the UK. They're all around the world, except for in the United States. Remember, they pulled out on the United States after the mandate. There's no more British companies doing anything in the United States except for what's existing and they're solely pulling back. You know, so these things, they have, they got burned here. So they're not going to help us either. There's no, there's no incentive whatsoever for anyone to help us. You know, so, I mean, we can help ourselves. That's the whole thing is we don't need to worry about OPEC or anything. It's just a matter of flipping a switch. The switch is not going to get flipped. You know, and that's the thing they're looking at too. Why would they have any incentive to help us when they're like, you can help yourself. If you start putting on the pumps, you become a competitor. World demand will be met and the supply won't be an issue anymore. You know, because you got to remember, we're importing oil now. That's oil that's not going somewhere else, you know. So, and I just don't see that problem ending anytime soon. I mean, I was, you know how I was an oil bull before. Now, because of the current events of what's going on, I am definitely very secure in the 150 price target. And I don't doubt that we're going to actually see the highest price in oil and history sometime in the next two years. It's very easy, you know, especially if there's any type of conflict. If there's any type of conflict, you got to realize, look at what's going on in Turkey. You know, we haven't mentioned about, talked about Turkey in a while. And you know, every once in a while, I bring that up. Their currency has collapsed. They're a complete instability there. So that region of the world between the gateway between the east and west, that controls a lot of oil flows through those things. It's not just regular, just international trade, but there's commodities that go through oil being one of the biggest ones, you know. So, and I think we're going to have a lot of talk about this. You got to remember, you can have all the electric vehicles you want. It's not going to mean that oil is going to not go up, you know. We don't need any gasoline demand, you know. Diesel demand isn't going anywhere because they can't replace that, that as far as heavy machinery, you know. Electronic vehicles aren't even close to doing that, you know. So, but that's not the biggest part of it, you know. And we, and our enemies know that, you know, as far as what are, what is the components of a barrel of oil, you know. And that becomes more and more precious. It used to be that oil was precious because we didn't want the gas. You know, you got to remember gas was a mistake. That was a, they found that on accident. It was a byproduct, you know. So, I mean, and this is something that now is becoming, you know, it's not about that, about the auto industry and things like that. It's about every other industry that it impacts, you know. And I agree with, you know, the way things are right now as far as, you know, trying to be diplomatic and, you know, have conversations with all these groups and whatever. But it's all, it's all just puffery. It's not going to go anywhere because it never does. Yeah. I read, I read one article today and just, you know, random analysts throwing out random prices, but saying, you know, if there's an escalation over there, you could easily see 120 or 125 dollars. And I said, yeah, of course, that makes sense. You know, as in, you better believe it's possible because there's enough influences going on across the world right now, let alone a disruption to that degree, exacerbating things. Teddy, we're going to take a quick break. Can you come back for us after the break? Because I want to get into some of the currencies. The currencies. And I have the chart up long term of crude back here. It's funny how, you know, you can, you can, a new normal can become normal as in a hundred dollar crude and three to four dollars at the pump was pretty normal for a period of four years, which seems remarkable in today's mindset that we chopped around there for so long. And you had that spike of 147 going back to what 2008 prices, but you chopped around man from basically almost the beginning of 2011 and it took until almost the end of 2014 where you got the sell off and we're right back to that area right now in crude. Well, stay tuned folks. We're going to come back with Teddy. We're going to jump to some forex as we wrap up the program. We'll be right back in three minutes folks. Stay tuned. Welcome back folks. You got S&P futures down 32 points right now, trading at 44.31. We're talking to our man Teddy Kegstad. We're talking a little bit of forex. So Teddy, we got a couple minutes here to wrap things up. We talked a lot of crude. I know that plays into the forex market as you told us many times before. No real huge moves I picked up, but what were you looking at over the last week? What are you looking at in the next week for listeners and viewers out there in the forex market? Looking for a breakout for most of them. It's been chop suey. You know, it's kind of funny that U.S. dollars, Swiss has been in a range trade basically for over a half a year. Even the Euro has been basically in a $3 range for months now, and we've been right bobbling around the center part of it. You know, the pound also. I mean, there's been really no swing trade, if you will, over the past week and a half to two weeks. It's really become a numbing trade, you know. So I'm looking for breakouts, to be quite honest with you. As for the most part, except for the U.S. dollar yen, which I'm a very big bull on. It's slightly lower today, but that's because the dollar is getting a little bit of a hit today, which I think has a lot to do with the speak from the whole Russian-Ukrainian thing. I wouldn't take much stock in it, you know. There's a lot of economic numbers too, especially for the yen and a couple other currencies that still have yet to come out over the next few days. They're pretty important over tomorrow and Friday. So I think you might see a little bit of movement and volatility in the yen and also in the pound. I would look, be very leery of buying into breaks in the Euro-U.S. dollar as well as the U.S. dollar Swiss. The pound I think is a pretty neutral currency and still has a good chance, if anything, of diverting from the other two European currencies to the upside. And any upside move also, let's say the dollar takes a hit and you do see these major currencies get a rally. Remember that they're in a downtrend, most of them. So any rally in the Euro-U.S. dollar is a rally to sell. It's at least to be viewed as a corrective move higher and not a bullish move higher. Especially because you're coming off a new move low is on a weekly basis anyhow. The pound, not so much. The pound is a little bit more neutral. So those rallies, I think you could see a little bit more action and volatility pushing us through resistance. Be very mindful that there's probably not going to be a lot of strength and follow through there. That was perfect, man. That was a solid two minutes of action in the forex market. We appreciate the conversation and the update as always, Teddy. We'll talk to you next Wednesday, man. Sounds good, Tommy. You have a great week. Thanks, Teddy. Folks, thanks so much for tuning in. Stay tuned. Basel Chapman's up next. Live programming, all day at TFNN. Fed minutes at two o'clock as well.