CLASSICCITY

CLASSICCITY Updated 

Despite recent attempts for bulls to take charge, I see UM contained for now within a channel. 19.30 and 19.36 have acted as turning points recently, will be interesting to see if they are tested. At this point MXN weakness stems from political news regarding NAFTA, Obrador's policies regarding oil and general dollar strength. I remain short scalp biased with...

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I highlighted what I see as the last chance for bears to halt the rise in WTI. Assuming this area holds I see a retracement coming towards 66.5. Shorting right now would be jumping in front of a freight train. Stay safe and stay alive.

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Gold has been falling consistently for 3 days now, I have seen rumblings of traders flipping from short at channel resistance to buying at what should soon be channel support. I think we can all agree that Gold has been stubbornly rangebound for a few weeks now. What has surprised me is the lack of buying thus far, I can see this falling a few dollars more before...

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So Gold opens up sunday night and drops easily. Many traders most likely went into the weekend assuming Syria would escalate, which it clearly did. Sunday opened and saw risk on attitude taking hold. Within an hour prices had dropped to 1340 which was bought by many catching the dip. Since then Gold has been pressing higher. My thoughts for today: If Sunday...

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So I started Wednesday with a short position that I held overnight, I went to sleep debating about hedging the position since the risk of Syria is so prominent this week. I did not hedge my short, that in retrospect was a very big mistake, my position was roughly at break-even after having been in profit earlier. I could have either taken the profit when I had it...