Is this the breakout moment in oil? Whichever way oil goes here its good for gold.
Comment:
I wish I would've put in just a small long position at the time I published this idea. I am currently now working on an idea to enter long at some point in the near term, as I believe this move has a lot more potential. I think a short term dollar run up is fizzling out and oil along with gold and everything else denominated in USD is going higher as volatility spikes. Entering high volatility for the first time in years will be shock to a lot of people. Big moves up and down all the time, false break outs, huge daily moves, bull traps, bear traps, oh let the fun times begin. It is not even about dollar weakness, its a global dollar spending spree! A crash in equities would need to occur from an EVENT, i.e. financial crisis. But as swing traders if we play smart the coming high volatility environment with be great.