Gold Market Wire
News, analysis and commentary for gold traders and investors
Crude Oil Market Update
Crude Oil Gets Airborne
January 11, 2022 - (Gold Market Wire) - Our intimation, earlier today, that Crude Oil was on the launch pad to higher prices looks like it is being proven right. Crude is storming higher now, and there is really not a lot except clear skies above. The added length, for those who have taken it, was one of those (very) rare occasions where chasing strength is being proven right (albeit, only so far, of course).
The chart lays out the accomplishments:
Quite the performance, really. We are heading into "blue sky" territory, and as regretful as it may be, although markets have no loyalties, this sure as hell beats watching the Gold market paint dry on the proverbial wall.
As we have been saying for months now - Crude Oil is strong. And it sure looks like it's about to get a lot more expensive.