“I am an optimist. It does not seem too much use being anything else.” - Winston Churchill
Notes for Tonight’s Newsletter:
We kicked off the month of April with a bull-rally back to $50 on Crude Oil and $1200 on Gold… but look closely and you start see why smart traders are looking for ‘bull-traps’ on Thursday… are you ready for this?
Crude Oil appears to be bullish this evening, but this low-volume rally back to $50 came at the end of the First Quarter and we can’t call this bullish until we see the buyers hold a pullback.
Wise traders will be very careful buying on Thursday and look to sell any failure from the buyers on the way back to the round-numbers below us!
Gold appears to be bullish this evening as well, but today was nothing more than a 1-day rally on very low volume, which means smart traders will be looking for the buyers to try at support levels, and if they fail we will see price come right back to where it started earlier this week.
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