RE:Head ShakingCommodity cycles driven by inflation are a notoriously bumpy ride, look at oil, the other day WTI traded at an intra day high of something like $129, now trading at around $94, that is a heckuva swing on not much (25% ish) = hoped for ceasefire in Ukraine, Chinese cities being hit hard by Covid and being completely shutdown, and comments from UAE that OPEC+ should start pumping more barrels.
POG well over $2,000, and now $1910 with an 8% inflation rate.
Nickel closed on the LME trading floor because a Chinese company is caught majorly short, clsoing the market was REALLY odd!
PGM sell indicators have been flashing for days, I expected this pullback and am not surprised, and while the sell formation has been confirmed the contrarian in me says it is coming back into a buy range sub .70c.
The long patient view is called for, the bumpy ride I have warned about is common in this type of market. There are a TON of CFAs out there who have NEVER had to trade a bear market, its been buy, buy, buy since 2009 re-flation, now things are tricky and there will be a LOT of blood on the street, all the old pro types are dead or retired.