Friday, October 19, 2012

Update on Gold, Oil and Euro

I've been away from the blog for a while, but always keeping an eye on the markets.. Some interesting plays have come up that i felt like posting.  I think there are some very good opportunities coming up in the next few months, specially in Gold.

Im looking for a continuation higher after we correct a little more to around 1684.


------------------------------------------------------------------------------------------------------------UPDATE

------------------------------------------------------------------------------------------------------------


Oil is not so clear, but a rough guess is that we see a new low before making a good move higher. I would be looking around the 86 level to go long, with a target of 105 approx. I would be very careful with any longs once over 100 though (if we get there), as this whole move from the recent low of 77$ looks corrective.


------------------------------------------------------------------------------------------------------------
UPDATE

------------------------------------------------------------------------------------------------------------
The Euro, my preference is going short at only these two levels, 1.35 and 1.38.  Timing is everything, and getting in too early might be the difference between success and failure. I will avoid the Euro till the first target is reached.