It’s an over obsessed upon commodity, previously hyped for its (Hubbert’s) “peak” status by “experts” like T Boone Pickens and a whole clown show of promoters amplified by the media at the time.
Now WTI Crude Oil has reached a thick resistance zone (as managed in NFTRH for the last couple of years) and may be breaking down from a peak of a whole other kind. Here is the monthly chart we use.
It is preliminary, and one weekend OPEC jawbone could put oil back up in the consolidation. But as of now the price has ticked below the previous 2018 low to close the week. It is not a good look… unless you’re a gold bug, that is. More on that later.
Continue reading Positive Implications for Gold Miners if Crude Oil Breaks Down
By Bob Hoye
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The GDX/COPX ratio has broken above the 50 & 200 day moving averages and is still going, despite gold’s ignominious state at the moment.
Here’s what gold (GLD) looks like today.
Continue reading Gold Miners/Copper Miners Ratio is Interesting