as ive told the various people on gold forum - i think you want to be watching the usdjpy
in my view the next US rate hike will mark the 2nd top on the USD twi - and from there US should start falling driving a surge in all commodity prices
people who focus on single commodities tend to be near term supply/demand people - and thats usually only about 30% of the price action - the bigger game is USD and forward curves of USD vs supply/demand direction
hence why im expecting 55-65usd barrell of oil by mid next year - though march
thats why you are seeing intermediate higher lows as oilers build base - there's massive friction between the oil oversupply demand fundamentals and the currency math
but by end of December that grind should give way as supply/demand shifts to better balance and USD falls
thats my thesis. buy oil now. buy gold stocks day of next fomc rate hike. and i expect uranium stocks to surge strongly early next year.
but this onloy holds up for 1-2 more years until chinese debt finally collapses them. so its a medium term indian summer
but post this US election - after the cheers/tears of relief etc - all eyes globally are going to go http://www.usdebtclock.org/
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