Fade seasonal weakness in precious metals. The real alpha is the rotation into energy. While oil reclaims $100, the asymmetric long is Natural Gas. It's the clear laggard, holding key technical support (~2.6) and now rallying into summer demand season, supercharged by El Niño weather patterns. Expect continued pressure on gold/silver through May from dollar strength, rebalancing, and options expiry flows.
Yields
NDX
RUT

explicit

explicit
USD
natural gas up
Gold & Silver Club
6.5
Market Research Firm
Phil Carr
7.0
5/14/2026 11:16:27 AM
metals
Metals, they're starting to come under some pressure... potential for metals to come under a bit more pressure.
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wti
WTI crude oil very quickly reclaiming back above $100 a barrel.
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