Crude Oil Bounces at Lows - Further Recovery Unlikely
Short-Term Technical Forecast for Crude Oil
Long-Term Technical Forecast for Gold
Short-Term Technical Forecast for Gold
Long-Term Technical Forecast for Silver
The pattern in silver is clear. The drop from the March 2008 high to the October 2008 low was in 5 waves, indicating that any subsequent rally should prove corrective. The rally was corrective; the count shown is an A-B-C advance with wave A as a leading diagonal. Waves A and C are close to equal, which is common in a correction. The next bear leg in silver is most likely underway.
Short-Term Technical Forecast for Silver
The COMEX Silver contract finds itself in much the same position as gold, as silver prices have broken key trend lows. Subsequent price targets become previous spike-lows near the 12.000 mark, and a break lower would signal a move towards 11.50 is likely.
- A self-fulfilling prophecy? Not really. Goldman Sachs slashes oil price forecast, brings prices further down
- Crude Oil Bounces Off Previous Highs, Silver Remains Range Bound
- Crude Oil Advance Pauses, Silver Poised to Rally Further
- Tackling the preplexing question- what is going on with oil prices?
- Oil prices weaken somewhat in August on slowing economic recovery