 And folks, we're gonna jump over and talk to our man, Teddy Kegstad as we do every Wednesday and you can read Teddy's report, folks. The Tiger Forex report, he comes out with it every week on Monday mornings. He comes out with updates when warranted through the week. You head on over to the newsletter tab at TFNN. You can subscribe, folks. It's $97 a month. That comes with the money back guarantee, folks. You subscribe for 30 days, you're unsatisfied, you don't use it. It just doesn't work with your trading style for whatever reason. You cancel, you get a money back guarantee. When you sign up, you also gain access to a recent webinar, Teddy did. 60-minute webinar, forex strategies and fundamentals. What is behind the Tiger Forex report? A great webinar, Teddy did. When you sign up, you get the report for a month. You get the newsletter. You get the 60-minute webinar. You can't go wrong. And boy, we got some action in currencies. We got some action in crude. Teddy Kegstad, good morning. Good morning, Tommy. Boy, we got a lot of action, Teddy. I can't help but say what's going on in that crude market with the volatility we've been seeing, where do you want to start as we chop around this morning? Well, we can start with crude. Obviously, they're banging the lows. The bears are very happy and the bulls are scratching their heads right now. So I think one of the biggest thing is supply is good and demand is actually not that strong. I think that's one of the things that are suppressing crude prices right now. I'm still a bull. I think that this is just grinding a bottom out and I don't think it's going to maintain its lower bias over there. I would say definitely the next few weeks. I appreciate the take, man. I got the chart up here right now, even on a weekly basis. We're talking about, we just made a low, man. Pretty remarkable, 72, 75. And as a consumer, Teddy, in terms of demand, I'll tell you, when I see these prices, right, I say, man, I'm going to go fill up my gas tank, man, because $72 for the price of crude seems like a bargain in terms of a risk award portfolio of where it could be. Pretty remarkable, the pullback we've had, though, if you're looking at that market as a buyer, I know you cover it in the Tiger Forex report. Maybe you could talk to us about some of the levels as we come down. I mean, boy, a $10 pullback, man, pretty decisive. We reached $72, is this an area that you'd be maybe potentially looking at for some buys here? If you're looking for that, where are you looking for on the upside? Talk to me maybe a little bit about some of the levels, because I think it's $74 risk award. I'm not a big trader, but as I said, as somebody that buys gas, man, $74, and I know it's not exact translation of what I'm paying at the pump, but it does matter. Boy, I see a risk-award balance that I like at $74 right now. Yeah, I think you got to be a buy-break scenario right now because you have to be very careful with your risk. I think that for sure that any upside potential outweighs any downside potential right now. Like, I don't see crude, even if it was to break another $5, $6, that would be a spike low. I can't see that grinding and holding down. You know, we're heading into winter and we've had a pretty mild start so far. I mean, like, I'm in Chicagoland, man, and it's like 40 degrees, which is beautiful the last couple of days. I mean, that sounds pretty cold to you in Florida, but for the first week in December, we're usually at like, you know, I mean, the upper 20s sometimes bobbling down towards zero already, you know, for the cold temperatures. So I'm liking it. I think that right now it's a tough trade without a doubt, and it's tough to be a bull, but I'm looking for it definitely to bounce back up and get above that $80 mark. You know, I think it's very, very unlikely that if it does get down and stay in these lower 70s that it's gonna hold, I think it's really gonna start to lift again. So especially you can see with the currencies too, like right now, oil is not having such an impact, but every time oil starts to get a rally, you can see it affect the yen and it does start to impact the currency markets, you know? And that's where I think you really have to be tight. If you're a bear, keep your stops tight because if you're gonna think that you're gonna be in a sell rally situation right now, I mean, the short-term trend is that, you know, it's making lower move lows and lower move highs, but that's only on the hourly and the short-term daily. If you're really looking at in the longer term, at best we're setting up a range trade situation for crude right now. And that's where you gotta be careful trying to be a bear because if it's not a true bear market, this is where bears start to get slaughtered over the next couple of weeks, especially as we come in to roll over for December and also the turning over of the year into winter time as well. And could you talk to the listeners, Teddy, because you've covered it many times and boy, this is one of the best educations I got from you early on. We started having you on many years ago, but in terms of crude and the producers, right? And the demand and the supply. And when you look at especially the dollar versus the yen and how the US is a producer, could you just go over for the listeners and the viewers real quick for those that haven't heard it in terms of how that relationship works? Because I think just understanding the fundamentals of that market in terms of crude, the price of crude, how that impacts the dollar and especially how it impacts a currency like the yen, which has such a different part of their economy in terms of the production of crude versus like us, America. Okay, yeah, well, especially with Japan, that's a very good case example because as an ally, we also kind of guarantee Japan, meaning that they buy oil on the open market from all over the place. I mean, they even buy oil from Russia for price sakes. But the reality is we also protect them in the sense that if there's shortages or things like that, they know that they can rely on the US as a supplier. So at least they have been able to in the past. So the price of crude is very indicative of where the yen can be when it's trending. And we saw a lot of that over the last year and a half where especially because of the interest rate differential, and then you had the crude oil differential also that made the yen become very, very weak because you gotta remember that you're not buying oil to begin with, you gotta convert the cash. And then also you had the interest rate differential that slammed the yen, so your buying power also decreased. So every time crude especially would go up, that would hurt the US dollar yen because, or excuse me, the yen, meaning the yen's a bear and the US dollar yen would go up because that starts to add the value on the dollar side. So that's where crude oil definitely has an impact on currency markets, which then also flutters into other things because you gotta remember Japan's a manufacturing country. If they're an oil is something that they rely on for manufacturing, so it's not just automobiles. That's only one portion of what they need oil for. They need oil because they're a mass producer of hard goods, so that's why that really impacts that the Japanese yen currency especially. It's a great breakdown, man, and it makes so much sense when you break it down like that. The price is going up, we're selling it, they're buying it, of course it's gonna translate into it and then you just go down the rabbit hole of the effects and impacts that that can have down the line on the economies and the currencies and yields, et cetera, as we're all seeing. What do you wanna jump to next, Teddy, in terms of currencies? I know we got all the currencies kinda just pulling back dramatically from the moves we've had. You got the Euro 105, man. You got the dollar index basically at 105. You wanna talk about the Euro, the dollar? Where do you wanna jump to? Well, the Euro and the pound are the ones that are the strongest in the dollar index. Now, the dollar index hit a nice spike low on Monday, so Monday and Tuesday, the dollar was strong, obviously today it's coming back. Now, one of the reasons I think it's coming back also is that it's kind of a profit-taking break right now. You have to realize that the interest rate market was much lower earlier today and overnight and then they started a rally this morning as we opened up our markets. So that's kinda hitting the dollar, and I think it's more of a profit-taking move. I would key off of the low in the dollar index from Monday. If that low gets taken out, well, that's obviously bearish because you're making new lows. That's intuitively obvious, but I think right now that's a good pivot point that if we hold above that, if we don't break through that today and instead of new low, I would be very cautious trying to sell against the dollar. I think what you're seeing is a profit-taking move. We're heading into the Fed meeting. It's unlikely that we're not gonna see a rally in the dollar over the next few sessions. Teddy, I appreciate the education, folks. You heard it right there. Check out the Tiger Forex report, folks. Absolutely great. Teddy, I appreciate the time, man. We'll talk to you next week. Sounds good. Take care. Okay, man, have a great one. Folks, stay tuned. We'll be right back to finish up the show.