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...
View Hot-Chart..
The funny thing is that London's missing out on the gains. & when they join the short tomorrow...oil will start rising! *heheh*
The imminent sell-off has begun!! *glee* For those ready w/ short positions days ago...CONGRATS!! Enjoy the fruits of your hard work (moves). For those who didn't...well, you should've listened better to the markets.
Gunjack, depends on the timeframe. If you're talking about a week or two from now, it's around 60! If you're talking over a couple of sessions, well...take your short to above 68.50...then get a quickie b/w here and 70. Umm it may sneak over 70 a last time. If I were you, I'd set my trade over a week...and enjoy it! ;)
Thx
Gunjack
bentley is bringing its first electric car out after 2010. with all the problems of pollution, combustion engines in cars will start to be replaced slowly over the next 10 - 20 years.
"We're all Keynesians Now" remains the saying for now...
I will be on Bloomberg TV at 9:15 GMT...5 hrs from now. gnite/morning
Ashraf
Read here briefly about how Keynes speculated in currencies and lost and then came up with the famous quote
http://www.maynardkeynes.org/keynes-the-speculator.html
Part of what you are seeing happening now is Keynesian economics being followed. The simpler form of which is : when economies suffer a downturn, governments should borrow and spend money to boost economic activity. Part of the proceeds of the resulting economic growth should then be used to repay the debt.
Spec, EVEN if cars (& aircrafts!) equate to 55% of oil consumption, 45% is industrial processes. & even if 55% is run on alternate energy, what about 45%. I know you tries hard, but still didn't answer a single of the three questions!
As for profitability, the closest alernative we got to (was/is) the Canadian oil sands, but for that crude has to average 65/barrel for oil sands extraction to be viable (IF it is allowed owing to EXTREMELY environmentally hazardous). In the medium run, this is a gamble, but again, let's see (again, we get nowhere afa oil alternative is concerned). Ethanol showed some promised until sugar shortage took place & resources went again into sugar production!
Ashraf, I agree (& long hold the belief) that next year this time, we'll be around 150. I've gone through our posts on oil...and I think we agree on its movement. What do you have for breakfast? Weetabix?
we have sat nav on phones and on the way to phasing out petrol cars in the next decade or two. I'm sorry but it will happen far sooner than you think. Plus the more expensive oil becomes the more profitable to have a replacement for consumers.