Carley Garner Assesses Recent Strength In Crude (/CL)

Carley Garner of DeCarly Trading says "I think it's naïve to think that crude oil (/CL) can avoid the boom and bust cycle that we've seen in commodities like lumber (/LBS)." She thinks the crude supply will come back, as supply comes back with high prices. She thinks the Covid variants are keeping crude elevated at these levels. She thinks the U.S. Dollar will break through the $92.5 level, and once that occurs she sees it going to the mid to high $90s. She says the levels of gold (/GC) show that traders are thinking of more towards risk-off.