Ino.com / MarketClub
05-02-2008, 02:45 PM
Crude Oil, Gold and Perception -Did they pull the plug on crude oil?
Click here to view the free video (http://www.ino.com/info/197/CD28/&dp=0&l=0&campaignid=3)
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.
Watch the new video here. (http://www.ino.com/info/197/CD28/&dp=0&l=0&campaignid=3)
I hope you find the video both entertaining and educational.
3161 (http://www.ino.com/info/197/CD28/&dp=0&l=0&campaignid=3)
http://club.ino.com/uploads/Image/adam.jpg
Adam Hewison
President, INO.com
P.S. If you missed any of the Traders Whiteboard series watch them ALL here. (http://www.ino.com/info/196/CD28/club.ino.com%252Ftrading%252Ftraders-whiteboard-series/%252F)
Click here to view the free video (http://www.ino.com/info/197/CD28/&dp=0&l=0&campaignid=3)
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.
Watch the new video here. (http://www.ino.com/info/197/CD28/&dp=0&l=0&campaignid=3)
I hope you find the video both entertaining and educational.
3161 (http://www.ino.com/info/197/CD28/&dp=0&l=0&campaignid=3)
http://club.ino.com/uploads/Image/adam.jpg
Adam Hewison
President, INO.com
P.S. If you missed any of the Traders Whiteboard series watch them ALL here. (http://www.ino.com/info/196/CD28/club.ino.com%252Ftrading%252Ftraders-whiteboard-series/%252F)