The bobbleheads are all over the placehttps://www.marketwatch.com/story/oil-edges-lower-as-traders-monitor-russia-ukraine-tensions-middle-east-11643031454?mod=mw_latestnews
Oil futures declined Monday, caught up in a selloff among risky assets as prices extended a pullback after rising last week to their highest levels in more than seven years.
Oil remained underpinned, however, by worries over potential disruptions as traders monitored rising tensions over Ukraine and the interception of missile attacks by Yemen’s Houthi rebels on the United Arab Emirates.
“While fundamental and political forces remain positive for crude oil, those appear to be getting overwhelmed by market forces” Monday, Colin Cieszynski, chief market strategist at SIA Wealth Management, told MarketWatch.
“Last week, crude oil had become technically overbought and was getting due for a trading correction, which has started to unfold,” he said. “The catalyst for this appears to be a general rotation of capital out of equities and commodities and into defensive havens like bonds and gold.”
*******REALLY? Well what about Marathon Gold why is it going down and gold as well.?******** Even oil is down, throw everything out today and buy it back in a few days that is the way these guys think.
Oil’s decline Monday came as U.S. stock benchmarks declined sharply ahead of Wednesday’s Federal Open Market Committee decision on monetary policy and a wave of earnings reports.