EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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On Dec 16, you wrote:
"No Asad, It is the Brent that is usually HIGHER than WTI and not the other way round. The few times when brent was below WTIC was brief and abnormal ( i think it was earlier this year). "
Eversince, WTI has stayed above Brent. And as I wrote earlier, this has traditionally been the case. I'm just getting back to this topic because I had been noticing this trend through the years...and had been surprised by your contrary revelation.
Secondly, I (still) wish ti understand why this differential REALLY exists.
Finally, I'd received a lot of stick from a certain Forumer over NOT knowing my oil well - I have always known WTI to be more expensive than Brent...
Asad
I don't know the markets better than you, but I can tell from experience that anyone who follows technicals in the coming weeks could (repeat, COULD) be in some kind of trouble. Fundamentals...and esp/ the herd effect...will rule the roost!
Asad
NOW do you know what I meant by a 'friday tricky close' in my previous close! Oil collapsing like nine pins. Love it! LOve it! Love EVERY freakin BIT of it!
An 8-dollar delta in three days is SOMETHING!
Asad
I'm not so good at doing that myself, to be honest, but I know it (usually) makes sense.
Depends also and partly on your style of trading and the particular market.
The meaningless except in number only 10,000 DOW must be defended at all costs by the U.S. Gov't/Goldman-backed PT to avoid a panic.
BTW, CNBC-U.S. was a morgue all day until the PPT intervened. ThePPT and SNB both intervened in the inancial markets within a 12-hour period of each other.
CNBC was interviewing someone and when the DOW "miraculously" erased the 167 point deficit and went positive, the CNBC host rudely cut-off the interview and screamed, 'THE DOW jJUST WENT POSITIVE, AND IS BACK ABOVE 10,000 WHERE IT BELONGS".