Chart of the Day - Monday, March 15th, 2021

Today’s Chart of the Day was shared in a note by Chris Kimble (@KimbleCharting). It's a chart of Crude Oil (top) and Emerging Markets (bottom) going back to 2003. Chris points out Crude Oil and Emerging Markets have experienced several key turning points at the same time over the past 20-years. Both are currently testing long-term resistance at the moment. Crude Oil is testing a 13-year downtrend line, while Emerging Markets test horizontal resistance from the 2007 highs. In the note, Chris explains, "How they handle these levels will send investors an important message about inflation and interest rates! If both would break out, look for Energy and Emerging Market stocks to move much higher."