Allowing for the fact that crude is in a bear rally and not a bull market, its daily chart looks less threatened by yesterday’s selloff than either gold or silver. For one, last week’s high at 81.99 decisively exceeded an 80.21 target. And for two, the rally exceeded some key “external peaks” before taking a breather. This may have negative implications for motorists, but it is an incipient plus for bullion prices.
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