Or is there a lot of structural damage underneath the hood and prices going to plunge back down into the range?
No trade today:
I still give the Bulls the benefit of the doubt after yesterday's bullish pattern, but I'm on watch for a possible look down lower.
Looking a bit around the horn...
Commodities still on their death march to zero in what is an amazing trend channel lower. The monthly is at all-time lows.
Oil is printing a minor low on the weekly. Bottoming process? Or another leg lower? I just don't see how it makes a lot of sense to get excited to the downside with oil, despite the negative news flow. At the top, the news flow was extraordinarily positive. And "there is just no hope for prices to ever go higher again"
Both gold and silver trending lower. Gold breaking the base and and possibly set for another substantial move lower
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