Tech Guy Crude Oil Comments 4/18/26

The Epic Fury Excursion has caused many ups and downs in June Crude Oil futures. All of the blue lines are supply/demand lines, meaning that supply and demand is balanced when price touches the line. The area of price encircled by the grey oval indicates that a supply glut will occur in the near future.

Furthermore, the blue trend lines are also price targets, as you can see from yesterday's low print. Also, there is a gap below at about 67.0 Dollars which will be filled probably near term. Please study the 2 hour intraday crude chart.

Wheat:

The Soviet Union had a major crop wheat failure in 1972 and no one in the U.S. knew it. The lack of wheat in Russia and excess wheat in the U.S., and no one in the U.S. knew about it. Russia's terrible wheat crop led to The Great Grain Robbery.

For pertinent news and fundamental grain market information, sign-up for a 30 day, no cost, no obligation, no phone call subscription to Wright on the Market news sent to your email every day before you get out of bed. Click on "subscribe" at: https://www.wrightonthemarket.com/