commodities
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Started by bear - Jan. 3, 2020, 10:27 a.m.

look at a 10 yr chart of xau or oil.  it looks like the commodity arena is bottoming and going to run back up over the next year or so.   

the only question is whether we get up to the oil highs, stop short, or whether we set new highs.  

if you look at a 30 year chart of the xau,  it has always been stuck in the trading range.  up to 150 or more, then back down to 75 or so.  

i think we are heading back up to the higher part of that range.  the only issue is whether to sell when it gets close to its old highs, or hold and hope it goes higher.  

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Re: commodities
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By Richard - Jan. 3, 2020, 3:10 p.m.
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My targets are still $245 WTIC and $60 Silver. My target date has always been 2020. I thought we would have a multi year rally up to these targets but maybe a melt up and back down.

Re: commodities
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By wglassfo - Jan. 3, 2020, 6:28 p.m.
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With recent developments in Iran, one would be reasonably sure Iran will retaliate

Would oil be a target

Let's not forget the Saudi refinery episode

Or oil tanker movement

Would Iran consider higher prices for oil and pump gas, one of many retaliatory measures

Or does Iran want to blow things up and kill people

Word has already gone out for foreign workers in Iraq to leave as soon as possible for their own safety

This would have to have a slow down effect on production one would think

So: Iranian retaliation must be considered a very good possibility

Is it bombs and killing people

Or: Forcing the price of oil higher

Or: maybe some combination of both