Solid Kick Off
Given that it was only the second session of the year plus a dreaded FOMC day I’d say we are kicking off the season as well as anyone could ask for. But let’s remain cautions for now as it’s easy to get caught up in the early excitement, which often leads to a major smack down towards mid-January.
Yesterday’s theme was a binary silver entry and it today appears that we may be getting the short sell scenario. However I’m not seeing a convincing RTV-S formation just yet and have decided to use the overnight spike low as our entry threshold. Stop would be placed above 16.8 – if it pushes above it then precious metals may attempt to make a run for it.
Yesterday’s long campaign in copper is looking pretty damn good right now and I’ve decided to advance my stop to the break/even mark. If she’s going to run then most likely it’ll happen before the week is over.
Now if you aren’t long crude right now then you only have yourself to blame because for some mysterious reason you weren’t a subscriber yet (or snoozed which is worse). May I humbly suggest that you remedy the situation post haste before reading on?
Anyway, if you took it then good for you and you may now do what I just did, which is to pad yourself on the shoulder for pulling the trigger in the perfect spot and then move your stop to the break/even mark.
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By the way, only 31 more days until Super Bowl LI! Unfortunately it’s almost impossible for me to catch the game live over here in Europe. Does anyone happen to know how to watch it online?