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Commodity Divergences

|Includes: DIG, DUG, OIL, The United States Oil ETF, LP (USO)

The following graphic from 5 Min. Forecast shows the divergence of price of oil from copper.  A similar graph for some other commodities (gold, for example) would show a similar divergence for the past three months).


The  5 Min. Forecast  attributes the spring divergence to Libya and the latest divergence to Iran.  They quote Michael Pento who predicts some sort of military conflict (perhaps covert) within the next nine months, driving the price of oil as high as $200 a barrel.  That would put the price way off the chart displayed, somewhere up around the title.