00 level now having been given up, we expect the Oil will come down this week for a hard test of 90.00, where we expect the first test to be held.
The April Gold contract mounted intermittent rallies throughout the week after its test of 1562. We were consistently shorting the Gold above 1580, covering on $5-7 dips. We will continue to look to short the Gold in the coming weeks trade, as we believe the 1562 level will not hold and that the Gold will come down for a retest of its annual low.
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* 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.
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