Gold Market Wire
News, analysis and commentary for gold traders and investors
Crude Oil Update
Crude Oil Makes a Move
July 28, 2022 - (Gold Market Wire) - We got the tenor of crude right in our recent missives; namely, a market that was aching to move higher. Now we have the technical move:
Naturally that has meant length is appropriate. It's time to see if we can close out the week and month Friday and hold the gains. If we do, we may be entering the next phase of the bull market. Then it will be merely a question of sizing the position properly and managing any margin that is assumed. Note: If you are going to add margin, keep it small and do it at the beginning of the gap and not after we have started to trade sharply higher. Then the margin can be worked off as we move higher, and the position paid down and left to run.T
There can be little doubt now that Crude Oil, as well as the whole energy complex, looks extremely strong and is likely to move sharply higher in the coming months.