Gold Market Wire
News, analysis and commentary for gold traders and investors
Crude Oil Update
Brent in The Box
July 20, 2022 - (Gold Market Wire) - Brent is 'caught in the box' right now, and the parameters are fairly clear. With the wash-out last Thursday we'd have to say that short-term trading should come from the long side. There is simply too much signal to try shorting. War, Inflation and possible war with Iran - Cushing crude builds notwithstanding.
The Stall Set Out:
That's about it for now. The next break should take us significantly higher, but, naturally, the price of that may be another wash our first, so some caution needs to be maintained.
In addition to the box formation, and given that the power down-trend has now been cleared let's keep the following in mind: