Comments on oil, gold, and the USD
Raghee Horner wraps up today by sharing her trading strategy and general outlook for oil, gold, gold stocks, and the US Dollar.
A couple comments I have received were asking if oil is the buy of a lifetime – from a long term sense. Raghee outlines why it is not as simple as putting money into an oil ETF and riding that position for a long time frame. As for gold she has some levels where she would be a buyer again.
Click here to visit the Simpler Trading website and follow along with what Raghee is trading.
In case you missed it there is a special webinar with Great Bear Resources! Click the link below to sign up and have first access to the live event and the recording.
Great Bear Resources – Thursday April 23rd at 11:30am PT – Click here to sign up
Yeh this oil crash is unbelievable! WTI went down as low as $8 per barrel last night. I suppose I better give credit where its due: Well done Clive Maund, 3 weeks ago you said oil was going as low as possible $10 in the near future. And so it happened. Its not always the case but this time one of his out on a limb calls came to fruition. Here in Aus, we are witnessing multi-decade lows in fuel prices. Perhaps theres more to come too.
America is coming unglued, MCCONNELL say’s states should declare bankruptcy. California, Illinois, and Connecticut, want a Federal Government bail-out. Mitch say’s “no help from The Fed’s you (The States) got yourself in this mess, you can get yourself out.” Can we say “Depression”! https://www.msn.com/en-us/news/politics/mcconnell-says-he-favors-allowing-states-to-declare-bankruptcy/ar-BB1336bq
Analyst Chris Temple Told Us We’d See Negative Oil Prices; Now Hear His Current Insights
Mining Stock Education •Apr 21, 2020 #AudioInterview
In this interview Chris Temple provides commentary on the oil market and the macro-economic environment. Chris has been publicly declaring we would see negative U.S. oil prices. Yesterday oil reached an unimaginable negative $40.32 per barrel. That means some “buyers” of oil yesterday were being paid $40.32 per barrel to take delivery of the product. What does this insane price action mean and where do we go from here? ”
https://www.youtube.com/watch?v=ptz5rs92eyU