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| I can't comment on the history (or any sort of technical analysis or anything) but just from a laymen's observation this looks bullish to me. One of the interesting things with commodities is the fear is more to the upside as opposed to the down side which I would say is the opposite of equities. With equities the panic is the company is tanking and you flee for the exits at any cost (I always liked the term they take the stairs up and the elevator down). With commodities there isn't really "fear" of the price going lower. I mean to the producer there is, but not for the buyer... The fear in commodities is going higher which can drive the bid. At least that is kind of my take. Even though we've had a decent move up I would probably take higher as opposed to lower if I were forced to choose. | |
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