Huge Commodity Reversals; Is the Bottom In?

By: Mike Shedlock | Mon, Dec 1, 2014
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Gold, silver, and oil put in pretty spectacular reversals today from Friday Noon. Let's take a look.


Gold 60-Minute Chart

Gold 60-Minute Chart
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Silver 60-Minute Chart

Silver 60-Minute Chart
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Brent Crude

Brent Crude
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Gold, Silver, Crude

Gold, Silver, Crude

Prices approximate as of 2:40 PM Central.


Is the Bottom In?

These are enormous 1-day swings. Coupled with previous action, it's likely gold and silver have hit at least a short-term bottom, and likely much longer.

 


 

Mike Shedlock

Author: Mike Shedlock

Mike Shedlock / Mish
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Mike Shedlock

Michael "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Visit http://www.sitkapacific.com/ to learn more about wealth management for investors seeking strong performance with low volatility.

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