Loading ...PMs & Commodities
Took profits in my Silver futures account today when it squeaked into the green today. Wow! What a ride this week was. No, I’m not bearish on silver. I expect great things from silver over the next 12 months. Just executing my trading methods:
Sorry I don’t post as often as others, but longer term gold-tenters may recall that, although I play with fractals, I am a big proponent of ewave, and Senore Fibonacci, via price retracement/projections, and time cycles.
- Silver has hit my 1.618 price target for wave 3
- Silver appears to be topping right on schedule via latest 34 day fib cycle
So, for now I will happily take my profits and wait for the next cycle bottom. In the meantime…my eye is always looking for anomalies in the market to trade. Here’s something. Over the last 40 years its unusual to see such a wide divergence between gold and other commodities, as shown below.
Gold/Oil hit 91.12 (intraday 168.5 4/21/20), never could so much energy be purchased for so little. Sold all miners for oil majors during that time and as fortune had it, bought back 25% more shares of gold stocks in early May (even with the huge run up in the miners).
https://www.macrotrends.net/1380/gold-to-oil-ratio-historical-chart
IMO, oil is a sovereign/security risk for the US – while demand may not cure low oil prices, policy or international conflict might.
agree, although not sure oil would be my choice of commodities to trade because its so tied to politics…
i like natgas over the next month or two based on recent multi-year low and seasonal charts.
good luck with your trade!
you noticed???
Industrial metals are back. CRB has many other commodities. Just like there could be deflation in certain product n inflation in other commodities. Example electronics have been in deflation for many decades due to improvement in technologies n productivity.
Compare copper price vs gold. It is rising fast.