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| Commodity Tips FREE |
Gold
markets fell during the course of the session on yesterday, testing
the $1200 level. However, this area is acting as a support so we feel
that a bounce could come. Nonetheless, we don’t have any signals
right now to serve buying, so quite frankly it’s only a matter of
time before we get them but we have to wait. It will be safer to
simply wait on what the market decides. Once it makes its move, we
will follow but at that moment we are on the sidelines.
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| GOLD CHART |
The
silver market fell during the course of the session on yesterday, as
the market continues to see bearish pressure. We feel that this
market has a significant amount of support all the way down to the
$15.50 level, and with that we feel that the market will sooner or
later provide a buying opportunity as the buyers will re emerge. With
that, we are simply standing on the sidelines and waiting for the
right supportive candle on the daily chart to get involved. We do not
see selling opportunities in this market.
The
light sweet crude market fell during the course of the session on
yesterday, as the $54 level continues offer resistance. With that,
the market looks as if it’s ready to continue to consolidate going
forward, and as a result a pullback to the $48 level really wouldn’t
be much of a surprise. We think that the short-term market will
continue to be one that will be followed, as longer-term trades will
continue to be difficult. With that, the market is still negative, so
we are much more comfortable shorting this market on signs of
resistance.
CHARTS & SIGNALS
CHARTS & SIGNALS
Because
of this, a break of the bottom of the range is enough for us to start
selling, and as a result probably aiming for $48 in the short-term.
However, we are not willing to buy the bounce because we know that
sooner or later this market could break down and continue the bearish
pressure that we have seen for so long.
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