Did they pull the plug on crude oil?
If they did pull the plug on crude oil, we pulled it faster using our Trade Triangle technology. We had a signal to exit all long crude oil positions on the 30th of April at 114.95 basis the June contract. It now appears that oil is on the retreat and we could see further downside erosion in this market. The 108 to 110 level is an important area for this market to regroup, if it is going to resume its upward trend.
Has gold lost its luster?
When we first announced that we had a major sell signal for gold it was if we were going against the Holy Grail. We had what literally amounts to hate email coming in from all the gold bugs saying, how could we think of selling gold given the economic uncertainties that the world faces today. But as we have stated before, we only look at what's going on in the market according to our Trade Triangle technology. What's going on right now indicates that we could see gold continue to move lower. We've already reached several of our downside target zones. Our longer-term target zone for gold is around $800. A move to the to $792 level represents a 62% pullback from golds all-time high of $1,032.58.
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3 thoughts on “Crude Oil, Gold and Perception. It's what drives the markets”
I,m S.A Ghafari and working as FX Analyst for Union-Forex.com and marginally for FXstreet.com as an Independent Analyst. I want to drop a comment here because i just saw your method of triangles lately.
i,m sure it is a valuable strategy for those who want a reasonable profit constantly instead of doing stressful challenge with the big bear every day.It is a fact that Many investors just drowned in a pool of complicated trading strategies or setups while the only purpose for most of the wise investors is to make money. Congratulation to Adams Hewison and his partners for such a nice work.
I'd like to comment about the signals on GOLD and OIL. It's great that "you" are getting them. But is there a way being developed, sooner rather than later, to notify your subscribers when the signals are given. I myself am not at a terminal ALL day EVERY trading day. I am currently SHORT GOLD and OIL and will cover GOLD at $800 and OIL closer to $92-$95. But I sure would love your service to be more user friendly when it comes to sending alerts for positions in my portfolio and really "Delivering" those trade signals.
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