Gold Market Wire
News, analysis and commentary for gold traders and investors
Crude Oil Update
Crude Clears the Downtrend in Asian Trade
January 4, 2022 - (Gold Market Wire) - In trade out of Asia, Crude Oil has cleared the short-term downtrend line and looks ready to make a further advance. The bulls are in charge and look ready to mete out more punishment to those who stand in their way.
Although Goldbugs have patience that not even saints could muster, there comes a time when one has to go where there is money to be made. Rather than sitting on a market that has failed time and again to get airborne - let's go where the action is. Gold will have its day, we are sure - but that 'day' is not in the near-term future. It is still somewhere over the horizon. Yesterday's Gold action - straight out of the gate in the new year, was a dismal performance. Gold looks like its ready to rack up another year of paint drying, wrist-slitting action. Only a fool puts his energy into a moribund market. It's time to move on...until Gold shows it can play in the ring of the Bulls.