Is Crude just in a normal wave 2 correction or are we heading into a global depression?
seems its time for a new thread. war markets are treacherous
Started by
dharma
, Mar 02 2022 10:38 AM
4036 replies to this topic
#3862
Smithy
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Posted 07 December 2022 - 03:06 PM
Why do you think maybe global depression, Dougie?
#3863
Smithy
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Posted 07 December 2022 - 03:17 PM
Gold market pundits often draw attention to the ups and downs of annual gold mine production numbers for fundamental analysis of the likely trend in the gold price. I think this is quite misplaced. Annual mine production is around 2% of above ground gold stocks. In other words, the huge body of physical gold is held predominantly by CBs. It is those CB gold movements and who is buying and selling that is the dominant influence. On that note...
#3864
dougie
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Posted 07 December 2022 - 05:55 PM
Why do you think maybe global depression, Dougie?
retesting old resistane on oil weeklies. time to buy?
Senor?
#3865
dougie
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Posted 07 December 2022 - 05:55 PM
Why do you think maybe global depression, Dougie?
IF, oil breaks down through old restance which NOW should asct as support
#3866
senorBS
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Posted 07 December 2022 - 06:15 PM
Why do you think maybe global depression, Dougie?
retesting old resistane on oil weeklies. time to buy?
Senor?
gradually accumulating oil stocks yesterday and today, want to build to a 20% of account position, bout half way there at todays close. I favor a correction could be ending but we will see, as always DYODD
Senor
#3867
senorBS
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Posted 07 December 2022 - 06:20 PM
very mixed signals here. Nothing clear imo
Get out of the TREES, the forest has the answer IMO. I mentioned past few days the weekly 5-wave rallies in XAU/HUI/GDXJ/GDX - that is bullish IMO. Now how much we correct will be the key, I think we may have more downside to go but the surprise may be its a shallow one. So I hold a core and will look to add on weakness, as always DYODD
Senor
#3868
dougie
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Posted 07 December 2022 - 06:40 PM
Why do you think maybe global depression, Dougie?
IF, oil breaks down through old restance which NOW should asct as support
i am going to say we will bounce on that support BRIEFLY but stick a fork in it. high oil prices are gone for now
Low oil prices will cause more pain than high imo
#3869
dougie
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Posted 07 December 2022 - 06:40 PM
Why do you think maybe global depression, Dougie?
retesting old resistane on oil weeklies. time to buy?
Senor?
gradually accumulating oil stocks yesterday and today, want to build to a 20% of account position, bout half way there at todays close. I favor a correction could be ending but we will see, as always DYODD
Senor
thanks
for a bounce at least i guess. You are too good
#3870
dougie
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Posted 07 December 2022 - 06:41 PM
very mixed signals here. Nothing clear imo
Get out of the TREES, the forest has the answer IMO. I mentioned past few days the weekly 5-wave rallies in XAU/HUI/GDXJ/GDX - that is bullish IMO. Now how much we correct will be the key, I think we may have more downside to go but the surprise may be its a shallow one. So I hold a core and will look to add on weakness, as always DYODD
Senor
well i ALWAYS hold a core. and it is a larger core than it should be
