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Overbought oil

Jason Goepfert
2020-12-11

Oil's been on a tear lately, and the RSI for the Brent contract is now overbought. Since 1988, the contract has shown a hefty annualized loss when it's this overbought.

Unique to trendy markets like commodities and currencies, it shows an even larger loss when it's oversold. The best returns have occurred when it's not too hot, and not too cold.

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