News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Brent Crude Oil Closes in on $90 per Barrel
Brent Crude Oil Closes in on $90 per Barrel
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US and British Embassy Staff Begin Leaving Ukraine as Tensions Mount
US and British Embassy Staff Begin Leaving Ukraine as Tensions Mount
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US CPI Increases to 7% Year-on-Year in December; Up from 6.8% Year-on-Year in November
US CPI Increases to 7% Year-on-Year in December; Up from 6.8% Year-on-Year in November
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GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
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*** GOLD MARKET WIRE ***
*** GOLD MARKET WIRE ***
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Crude Oil Update

Crude Oil Readies the Attack on $80 a Barrel

January 3, 2022 - (Gold Market Wire) - As Precious Metals continue to meander on the road to nowhere, our focus remains, as it has been for some time, on Crude Oil. This year is shaping up to be a big one for crude, and we are holding fast to our length. Strait out of the gate this year, we already see some bullish indications:

an attack on $80 being readied?

We got a nice bounce ff the trend line at the close of the year and have held the 50-day moving average. So far, so good. It's tough to see this as anything other than a launch pad for the attack on $80. Yes, the diplomatic tone over Ukraine has been tempered, but that is only one facet of the energy complex, which is getting tighter and tighter every week. Long-term, over the next 1-3 years, Crude Oil looks wildly undervalued. And, as much as we are focused on Precious Metals here at GMW, Crude Oil looks one hell of a lot better than Gold and Silver over the next 3-6 months.

We would also like to submit the following idea: If China were to attack Taiwan, and there was to be a major military conflict, for what strategic reason wouldn't Russia use that conflict as an opportunity to 'clarify' its strategic deployment for the next 10-20 years? It would almost be almost madness not to seize that timing and utilize it. That means neutralizing Ukraine and Syria, and drawing a firm cordon sanitaire around Central Asia along with an even firmer containment of Armenia. This is not pleasant talk - but it is strategic reality. In all situations, Crude Oil moves higher. Moreover, with the recent 'dial down' of tension over Ukraine, a pertinent question must be asked: Why is Crude Oil continuing its march higher? Shouldn't it be selling off as the tension abates?

But it isn't.

Crude Oil looks strong. Very strong.

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