Oil and Silver

Discussion in 'Silver' started by Ponzi, Jul 1, 2012.

  1. Ponzi

    Ponzi New Member

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    IMHO Oil is looking oversold at these current levels, I might even have to start stacking barrels.
    The Iranian Oil embargo comes on-line today and should put upward pressure on the price.

    Is this good news for our shiny metal given the correlation between Oil and Silver? :/

    [​IMG]

    Over to you my learned friends.... :D
     
    Ponzi, Jul 1, 2012
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  2. thatguy

    thatguy Active Member

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    economic activity drives oil prices... 0 economic activity near 0 oil, so are we going into a depression? If yes then oil is going down as economic activity will not demand it. $10 per barrel oil :p . Not what I believe but just putting it out there
     
    thatguy, Jul 1, 2012
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  3. SULLA

    SULLA Member Silver Stacker

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    It has been reported that oil will stay at the current lower levels until the US election.
    (Can't remember where I read / heard that! Keiser Report/Capital Account? May have been one of their reports.
     
    SULLA, Jul 1, 2012
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