How’d That Work Out Last Time?
For 16 hours the gold market drifted lower in a sloppy, chop-chop pattern; then 55 minutes of straight up [1668 to about 1682] before sideways to lower the rest of the day. Good luck with this.
I got long and got shaken out on 2 mystery ticks. The second I’m out it’s $1.50 higher and never looked back. Whoop-de-whoop for a couple of bucks. Once the 55 minute long love fest was over, that was it for gold: nothing but drift and shaking out some longs from earlier in the day. Treacherous trading at it’s best on display.
Crude oil had a big reversal day of 300+ ticks. Let’s hope this psycho market can keep the range going forward. After a shakeout below 104 last week, the market is right back in the 104 – 108 range it has been in for 5 weeks.
Have a good day everyone.
-vegas
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