Loading ...Big Picture
With so many well reasoned projections as to where we are in the markets…lets have a look at where we have been
3 important commodities plotted with the Dow ( a proxy for Financial Assets)
Generally Gold Copper and Oil are well co related
Right now we have many here projecting :
Copper ( Base Metals proxy) breaking out UP
Gold ( Financial Stability proxy) Flat
Oil ( Energy Proxy) perhaps breaking Down
something’s gotta give
Take a look at correlation between copper & gold(you can see it a little bit here). If copper is breaking out then Im somewhat comforted for PMs. Also, I know its just one mans input, but I work with 2 energy analysts who think oil will be $70 next year. They’re very smart analytical detailed thinkers. Of course the oil market is very complex anything could happen globally and shift the big picture.