$WTIC Monthly

Mostly people had been anticipating a very auspicious trend change in gold prices with a capitulation. This has not occurred, but what has transpired is a massive capitulation in oil prices. The mania was in oil, and so was the captitulation.

It may be that what is required for gold prices to move higher, was that oil prices would see a capitulation, and that in fact, this is what we're waiting to see and should set aside the notion that a capitulation in gold is an absolute requirement.

http://schrts.co/FgSHuY

-F6