Oil is still dramatically overbought at current levels. We continue to look at the 96.00 - 96.50 area for fresh shorting opportunities.
The April Gold contract continues to meet selling on runs up to 1680.We have been consistently shorting the Gold on runs up to 1676 throughout the week, taking $5-8 profits on the short side. Gold looks tired at current levels. We will continue to sell Gold as long as 1682 is not achieved on a closing basis.
For the rest of this column of commodity futures trading recommendations, go to Market Analyst/ Trader Al Martin's website CLICK HERE Insider Intelligence
* AL MARTIN is a market trader as well as an independent political/ economic analyst with 25 years of experience as a trader on NYMEX, CME, CBOT and CFTC. He is considered to be a source of independent analysis for financially sophisticated and market savvy investors, as well as subscribers who want to understand the behind the scenes working of markets worldwide.
Check out Al Martin's website Insider Intelligence which provides weekly commodity futures trading recommendations.