TRADE ALERT (3:40 pm EST): We are getting some green lights to short sell crude oil today with the appearance of several bearish technical signals. We have been waiting to short sell this market over the last two weeks as we have been in a cycle time frame for a correction. We move out of this timing window next week so we will attempt the short sell here. Note that this correction may be brief and this may turn out to be a very short-term trade (which we normally avoid), but the correction could be significant ($3 or more) and is considered worth going for based on chart analysis and cycle timing. Conservative investors not interested in short-term trading should stay on the sidelines and wait until after the correction when we will likely reverse to the long side.
Gold and silver remained fairly stable and unchanged today and we will stay short while watching the precious metals market very carefully for a clear directional movement (hopefully down).
Gold and silver remained fairly stable and unchanged today and we will stay short while watching the precious metals market very carefully for a clear directional movement (hopefully down).
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