Monday, November 16, 2009

Is It Me Or Do Gold & Oil Look Precarious?

I've been looking for some good correlation plays, but everything seems out of sync today.

The only thing that looks convincing to me is that gold and oil seem likely to break to the downside - at least for a bit.

Oil looks a bit weaker. Gold might still heat up a bit before a meltdown occurs.

I'm not going to trade either one, but am going to look for currency pairs that line up with my theory. If there's no alignment, I'll look at the slowest pair on earth - USD/CHF.

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