I agree 100%. There's also the mutant strains that haven't been fully ruled out as being resistant to the vaccine.

WTI Crude Oil Trading

I'm beginning to wonder how high crude will go. Since Russia and Opec agreed to play nice last November, it's been in rally mode.

WTI Crude Oil Trading

Dr. Copper continues to rip higher. Here it is on a daily. Look at that higher volume. Unreal.

Copper for everyone

Crude starting the week off strong after a pullback late last week. Daily: image 15M: image

WTI Crude Oil Trading

Crude couldn't stay up above the $60 handle this week. While OPEC is cutting supply, there's still a lot of uncertainty about when demand will return to pre-pandemic levels. Regardless, it's safe to say prices are somewhat stabilizing. OPEC has ...

WTI Crude Oil Trading

Natural gas (CME NG) closing the week right about where it opened (on the gap):

Nat Gas anyone?

Pretty unbelievable recovery by Dr. Copper. Daily: image Weekly: image Monthly: image

Copper for everyone

NatGas (CME NG) continues higher after a gap up over the weekend and US getting slammed by the polar vortex. Rising crude prices hasn't hurt either.

Nat Gas anyone?

Cold US weather and higher crude prices continue to support natural gas prices. Finishing out a relatively strong week:

Nat Gas anyone?

We're seeing NatGas benefit from this winter storm hitting the US. Gapped up and still in rally-mode:

Nat Gas anyone?

It never filled the gap but not a very strong weak either (for being in the middle of winter. NatGas US storage data was very bearish but the decline started a little before that. Perhaps triggered some of the continuation. Again, higher oil prices ...

Nat Gas anyone?

There's no doubt silver is getting short squeezed. Look at the gains since yesterday. Look at the volume! image I post a lot about gold/silver correlation and recently when silver outperforms gold that's indicative of a bull market for precious ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

I'm wondering what's going to happen now that the markets have priced in a $1.9T relief package. Today I've seen a lot of predictions on a much lower amount in the end. It isn't projected to happen until March either. The downside risk is in the ...

Private Island Traders

After last week's sell off in natural gas, it gapped up on the weekly open. With a warmer than expected US winter forecast predicted, there's not much supporting NG prices, outside of higher oil prices. I'm not sure what to expect this week, but it ...

Nat Gas anyone?

Even though longer term funamenatals support higher gold prices, we still could see more of a correction. Gold futures held support in the most recent test of $1800 and I wouldn't rule out a test of $1770 either.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

It's a very strong sign for oil markets that they are very committed to being the swing producer.

WTI Crude Oil Trading

Not much going on today as the US is on a holiday. Markets are open but liquidity is low. There's a lot of uncertainty surrounding the inauguration but I don't see that as any catalyst for gold buying. However, Yellen is set to be confirmed ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

This rally in crude started back at the start of November when Russia announced they'd potentially support delaying the output taper. That was a strong signal that Russia (OPEC+) was going to play nice with the Saudis (OPEC) and it's turned out to ...

WTI Crude Oil Trading

NatGas still going strong but some heavy selling came into the CME contract today around 2:30pm ET. The theme so far this week is colder temperatures supporting prices.

Nat Gas anyone?

After a pretty big gap down, natural gas is looking strong again. Henry Hub CME Nat Gas futures:

Nat Gas anyone?