Oil is simple: an almost constant, smooth decline in price until last month, followed by a V shaped bottom coming out of the minimum. Since about Jan. 26, it's been higher highs and lows.
StockCharts; the dark red lines are mine. Around here, regular gas went from $2.03 to $2.17 between the Saturday, Jan. 31 and Saturday, Feb. 7. I have no reason to think gas will go that low again for quite a while.
Gold also looks like it has hit a bottom and started to recover.
Silver is the most difficult of these, but, again, since about the same time in early November, the white metal has been recovering. The channel it's riding in is pretty consistent. Both silver and gold showed a dip on June 3rd of last year. Silver's bounce back was more dramatic than gold's and it was harder to draw an upper boundary.
Let me give a little perspective on all of these things. The earliest prices I can recall for a gallon of gas were around 20 cents a gallon: "19 and 9" because Florida prices always ended in that 9/10 of a cent. Today's silver price of $17.05 says one of today's greenbacks is worth about 8.11 cents of 1964 silver. In other words, one of today's dollars isn't worth a 1964 dime. Today's gas price of about $2.15/gallon would cost 17 1/2 cents back in 1964. Maybe the prices I remember weren't from 1964; but gas is basically the same price it was in 1964, measured against a standard. Higher gas prices aren't from "peak oil", they're from worthless dollars.
My standard disclaimers:
- Prediction is difficult - especially about the future.
- My definition of "Technical Analysis" is drawing random lines on financial plots and pretending they mean something.
- If you're taking financial advice from some random internet dood, you deserve to lose everything.