20 August 2024 – 08:21 Central Euro Time

The Euro, Copper and Oil are all at present below their respective Neutral Zones for today; none of the other BEGOS Markets are above same, and volatility to this point of the session is light relative to yesterday ’round the same time. Our best correlation amongst the five primary BEGOS components is positive between the Bond and Euro. Oil’s Market Magnet is being pierced (in real-time) to the downside, suggestive of still lower levels: currently 72.98, Oil has made a home in the 70s through much of this year; 72-20-72.00 shows as near-term Market Profile support; price was briefly sub-70 this past 03 January; and Oil’s best Market Rhythm for pure swing consistency is (on a 10-test basis) its 2hr MACD and (on a 24-test basis) its 2hr Parabolics; thus 2hr Oil seems a reasonable study of which to take note.