{"id":11363,"date":"2014-11-26T00:59:57","date_gmt":"2014-11-26T05:59:57","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=11363"},"modified":"2014-11-26T00:59:57","modified_gmt":"2014-11-26T05:59:57","slug":"falling-crude-threatens-gold","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2014\/11\/26\/falling-crude-threatens-gold\/","title":{"rendered":"Falling crude threatens gold"},"content":{"rendered":"<p>Nymex Light Crude broke long-term support at $76\/barrel, signaling a further decline. Sharply falling 13-week Twiggs Momentum reinforces this. Brent crude is in a similar down-trend. Long-term target for WTI is $50\/barrel*.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" width=\"525\" height=\"363\" alt=\"Nymex Crude\" title=\"Nymex Crude\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-11-26-crude.png?resize=525%2C363&#038;ssl=1\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;color:#999999;\">* Target calculation: 80 &#8211; ( 110 &#8211; 80 ) = 50<\/p>\n<p>Supply is booming and OPEC members appear unwilling to agree on production cuts [<a href=\"http:\/\/www.bloomberg.com\/news\/2014-11-25\/wti-extends-drop-from-4-year-low-as-pre-opec-talks-fail-on-cuts.html\">Bloomberg<\/a>]. Goldman Sachs project WTI prices of around $74\/barrel in 2015 [<a href=\"http:\/\/www.businessinsider.com.au\/goldman-sachs-on-cheap-oil-2014-11\">Business Insider<\/a>], but the following chart of real crude prices (Brent crude\/CPI) suggests otherwise.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" width=\"525\" height=\"363\" alt=\"Nymex Crude\" title=\"Nymex Crude\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-11-26-brent-cpi.png?resize=525%2C363&#038;ssl=1\" \/><\/p>\n<p>Prior to the 2005 &#8220;China boom&#8221;, the index seldom ventured above 0.2. The subsequent surge in real crude prices produced two unwelcome results. First, higher prices retarded recovery from the 2008\/2009 recession, acting as a hand-brake on global growth. The second unpleasant consequence is a restored Russian war chest, financing Vladimir Putin&#8217;s geo-political ambitions.<\/p>\n<p>I suspect that crude prices are not going to reach the 2008 low of close to $30\/barrel, but the technical target of $50 is within reach. Given the propensity of gold and crude prices to impact on each other, the bearish effect on gold could be immense.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nymex Light Crude broke long-term support at $76\/barrel, signaling a further decline. Sharply falling 13-week Twiggs Momentum reinforces this. Brent crude is in a similar down-trend. Long-term target for WTI is $50\/barrel*. * Target calculation: 80 &#8211; ( 110 &#8211; 80 ) = 50 Supply is booming and OPEC members appear unwilling to agree on &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2014\/11\/26\/falling-crude-threatens-gold\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Falling crude threatens gold&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[41,44,26],"tags":[495,665,797,1567,2529,3006,3204],"class_list":["post-11363","post","type-post","status-publish","format-standard","hentry","category-china-hk","category-crude-oil-natural-gas","category-russia-former-ussr","tag-brent-crude","tag-china-boom","tag-consumer-price-index","tag-global-growth","tag-nymex-wti-light-crude","tag-russia","tag-spot-gold"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Falling crude threatens gold - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Falling crude threatens gold - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Nymex Light Crude broke long-term support at $76\/barrel, signaling a further decline. Sharply falling 13-week Twiggs Momentum reinforces this. Brent crude is in a similar down-trend. 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Failure would indicate a long-term decline to $75\/barrel*. Reversal of 63-day Twiggs Momentum below zero already warns of a primary down-trend. * Target calculation: 100 -\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4383,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/17\/crude-brent-and-wti-light\/","url_meta":{"origin":11363,"position":1},"title":"Crude: Brent and WTI Light","author":"Colin Twiggs","date":"May 17, 2012","format":false,"excerpt":"Nymex WTI Light Crude broke support at $96\/barrel, warning of a primary down-trend. Reversal of 63-day Twiggs Momentum below zero strengthens the signal, while follow-through below $93 would confirm. * Target calculation: 95 - ( 110 - 95 ) = 80 Brent Crude is testing medium-term support at $110\/barrel. Failure\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4498,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/31\/crude-brent-and-wti-light-3\/","url_meta":{"origin":11363,"position":2},"title":"Crude: Brent and WTI Light","author":"Colin Twiggs","date":"May 31, 2012","format":false,"excerpt":"Brent Crude is headed for a test of primary support at $100\/barrel. Failure would indicate a long-term decline to $75\/barrel*. 63-Day Twiggs Momentum below zero already warns of a primary down-trend. * Target calculation: 100 - ( 125 - 100 ) = 75 Nymex WTI Crude below $90\/barrel, signals a\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11189,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/10\/23\/crude-oil-threatens-support\/","url_meta":{"origin":11363,"position":3},"title":"Crude oil threatens support","author":"ColinTwiggs","date":"October 23, 2014","format":false,"excerpt":"Brent crude [pink] has already broken long-term support at $90\/barrel and Nymex Light Crude [blue] is testing similar support at $78 to $80\/barrel. Breach would confirm a primary down-trend and a long-term target of $50*. * Target calculation: 80 - ( 110 - 80 ) = 50","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"Nymex WTI Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-10-23-crude.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-10-23-crude.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-10-23-crude.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":10872,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/12\/gold-crude-fall\/","url_meta":{"origin":11363,"position":4},"title":"Gold &#038; crude fall","author":"ColinTwiggs","date":"September 12, 2014","format":false,"excerpt":"Gold broke support at $1240\/ounce to signal a primary down-trend. Declining 13-week Twiggs Momentum, below zero, strengthens the signal. Follow-through below $1200 would confirm. The sell-off is being driven by a rising Dollar. Crude oil is also falling, with Brent Crude testing its 18-month low. Nymex breach of $92\/barrel would\u2026","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"Spot Gold","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-09-12-gold.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-09-12-gold.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-09-12-gold.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":572,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/01\/crude-oil-divergence-continues\/","url_meta":{"origin":11363,"position":5},"title":"Crude oil divergence continues","author":"ColinTwiggs","date":"September 1, 2011","format":false,"excerpt":"The spread between Brent Crude and Nymex WTI Light Crude remains at $24\/barrel. Brent is rallying to test the declining trendline, but retreat to medium-term support at $105 is likely. Resolution of the conflict in Libya should take some of the supply pressure off European refineries, easing Brent prices. *\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/11363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=11363"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/11363\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=11363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=11363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=11363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}