Today was signal turn very bearish for the market, which the bear will be in full swing in the first half trading session...
However, due to this bearish data it will hit dollar and bond more in the later trading session, there might be a swift rebound in the second trading session ...
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Gold, recalled 2 years when IMF first announce that they planned to sell there gold that news easily sent gold down by 10% in 3 - 4 session .... The weird thing today is when IMF is starting to sell Gold the Gold market hold UP very well .... hmmmm tricky huh...
When the stock rally end, soft comodittes like wheat corn cattle livestock , precious like gold and silver, will be the next big run ...
Dollar will on the devalue stage when compare to gold and slower rate of decline when compare to other currency ....
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Anthony,
ReplyDeletewhat position do you short your oil?
Hi Preditor,
ReplyDeleteI am fairly new to trading and have been watching your comments on the Oiltrader blog. You have made some very good calls, well done and keep posting your advice is appreciated greatly.
What do you see tom, still buy on weakness, I think this wave 4 is not over yet and we may get another opportunity of buying 1040 area :¬)
Thanks
S
Hi Saj,
ReplyDeleteThank you for your comment
If you are planning to buy @ 1040, this will a bearish area which I think the market is go down more then it raise if it touch @ these area ...
To see the rally have leg or we have a few things need to anaylsis before ... I will be back to write more later ... please check back
Thanks Preditor, I await your further analysis but this current action does look very similar to waves 4 and 5 when 956 top was reached.
ReplyDeleteThanks again
S