Brent crude oil (BNO, quote) was steady on Wednesday morning after briefly rising overnight, but waning demand in both China (FXI, quote) and Europe (FEZ, quote) coupled with declining U.S. crude imports kept a lid on gains.
Price action on the major US indices yesterday could best be described in one word, indecision, with all of the Emini futures closing with a doji candle of one variant or another.
The last few days have seen some clear and unequivocal signals from the gold futures chart, that the precious metal is on the way lower, something I have been suggesting for several weeks.
Brent crude oil (BNO, quote) was steady above $107 as investors kept an eye on global instabilities, but relaxed their worries about a supply interruptions as the market appears to have a glut of crude.
Gold futures sold off sharply once again yesterday, with the precious metal plunging through the $1300 per ounce level, to close the trading session for the December contract with a wide spread down candle shedding $14 per ounce on the day.
Happy Friday Everyday This week we saw a nice swing up in the beginning of the week and then downward on global tension in Israel and concerns over the tragedy of the downed plane in the Ukraine. Our prayers and thoughts are with those families effected by this horrible tragedy.
Crude oil futures finally managed to find some bullish momentum today, courtesy of the oil inventories from Cushing, which helped oil to reclaim the $100 per barrel level, to currently trade at the time of writing at $101.26 per barrel.
Yesterday the YM E-mini index future delivered a masterclass in trading what you see, and not what you think. Trading with an opinion is one of the most destructive approaches to the market – just ask the euro bears who have been shorting the single currency for years. All to no avail.
Option Alert Service Signal New Trade Suggestion
Option Alert Service Signal New Trade Suggestion
