Just updated my latest signals table based on Friday's Commitments of Traders report. New signals for next week's open of trading in gold (cash) and crude oil (bullish). I'll be back Monday with a detailed post on the new data. Hope you did well this past week. And what a nice one it was. Have a good weekend!
2 comments:
I know it's pointless trying to second guess a system. You have to trust it even if it looks wrong but on the other hand Natural Gas almost became bullish and the chart looks like it could be bottoming. I think it's worth a speculative bet even if the system doesn't give a buy signal.
My gut says it's a better bet than the Oil signal.
Hi P,
I'd certainly consider buying natural gas as a discretionary trade even if the COT signal isn't there yet. But so far, it doesn't look like a good buy to me for either reason.
A market can remain oversold for a long time before it reverses, and natural gas is one of the most volatile markets out there, so I'm always very cautious when trading it and use very strict risk control.
Regards,
Alex
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