Over the last few weeks, recessionary fears have overtaken inflationary fears as the main driver of price action in financial markets with global central bank heads to market pundits fearing the worst for the months ahead. A series of out-sized interest rate hikes by various central banks, in a bid to temper red-hot price pressures, is set to, or are already weighing on global growth prospects as central banks see fighting inflation as their overriding priority. As recession fears grow, oil will continue to aim lower. The daily Brent Crude chart shows a topping-out pattern earlier this month with the $123.50/bbl. ... (full story)