Midday Update: 2022-12-05

Doubts emerge about Fed 'pivot'

Let us start with crude oil. Nice to see bears lean in and sell 82.50. They were able to break under 80.60 and now putting pressure on old supports around 77.70 to 77.94. If this is wave [V] of iii down, first support of any consequence is at 74.75 though I prefer lower.

Early in [V] of iii down?

Next of interest is Euro which I’ve been watching for a maj…