Gold Market Wire
News, analysis and commentary for gold traders and investors
Crude Oil Update
Crude Oil Makes Its Move
May 5, 2022 - (Gold Market Wire) - Crude Oil has made its move, much as we heralded a week ago, and the upside is what we have. Our inflection timing has worked out well - and, of course, we got the direction.
One has to admit, this was one of the easier positions to slide into for quite some time. The international situation continues to deteriorate, and its looks like plans are afoot for Europe to try and extinguish their entire energy trade with Russia. That can only mean one thing - higher prices. Potentially - a lot higher - which will devastate the western economies. We have given up trying to opine on the rationale/reasoning behind it - although some kind of suicide wish must be at the forefront, but the West is envisioning war - so war it shall be.
We expect this rally to continue.