Trade ideas, analysis and low risk set ups for commodities, Bitcoin, gold, silver, coffee, the indexes, options and your retirement. We'll help you keep your emotions out of your trading.
Crude oil closed down $1.51 at $72.46 a barrel today. Prices closed nearer the session low today and saw a corrective pullback from strong gains scored last week. Recent price action does suggest a market low is in place, or close to it, and that prices will now chop in a sideways trading range between last week's low of $67.15 and strong psychological resistance at $80.00.
Natural gas closed down 10.6 cents at $4.234 today. Prices closed near the session low today and scored a bearish "outside day" down on the daily bar chart. The bears still have the overall near term technical advantage.
The U.S. dollar index closed up 20 points at 87.21 today. Prices closed near mid-range today. European Union sovereign debt troubles will continue to support the dollar index. The bulls still have the solid overall near term technical advantage. There are still no early technical clues to suggest a market top is close at hand.
Gold futures closed up $12.00 at $1,227.00 today. Prices closed nearer the session high today and hit a fresh two week high. Safe haven buying today boosted gold. The gold bulls have the solid overall near term technical advantage and gained some fresh upside momentum today. There are no early technical clues to suggest a market top is close at hand.
Russia has been traditionally positioning itself as the prime source of hydrocarbon raw materials for Western Europe. However, European countries also have crude reserves, although they are not enough to cover the current level of oil consumption on the continent. Europe receives most of its oil from the North Sea, where Norway and Britain set their rules. The oil extracted in the North Sea - 100 million tons a year - is only enough for Norway (world’s third largest oil exporter) and Britain, which buys that oil. The level of oil extraction in the region has been decreasing recently, but oil companies continue to discover new small deposits of black gold in the North Sea.
Norway’s oil company Det norske has recently found one, The Norway Post wrote. The deposit has from seven to twelve million barrels. Nothing has been reported about the profitability of extraction in the new deposit. The North Sea still remains the territory of good perspectives, not to mention the Arctic region, which has not been explored yet. The largest oil wells on the British continental shelf in the Northern Sea are Leman-Bank, Brent, Markham and Buzzard. The proven reserves are evaluated at 3481 million tons. As for continental fields, the largest one is Wytch Farm – about 60 million tons of oil, Neftegaz.ru website said.
Britain ’s long time adversary in the field of oil mining, France, is no competition. However, France was the first nation to have applied the method of oil mining at Pechelbronn. France was also the first to start the industrial extraction of this fuel. Nowadays, France mines only 20,000 barrels of oil daily. This number pales in comparison with the nation’s needs of nearly 2 million barrels a day. The explored oil reserves in France are not that large either, 122 million tons.....Read the entire article.
Last week a downgrade in Spain’s credit rating helped sink oil. Overnight it was a report on Chinese manufacturing that did the deed. Last Friday, ahead of the holiday, Fitch downgraded Spain’s credit causing stocks and oil to tumble. That was only temporary because at the end of the day we all know that Europe doesn’t matter, it is all about China and China has decoupled from the rest of the globe. Well, not so fast. Overnight the China Federation of Logistics and Purchasing reported that China's Purchasing Managers Index fell to 53.9 in May from 55.7 in April. That dip in Chinese manufacturing seems to suggest that perhaps China is getting impacted by the economic turmoil in Europe. China exporters count on Europe to buy their goods but it is possible that because of the turmoil it's happening at a slower pace.
Adding to the cracks in China’s unbreakable reputation is concerns rising surrounding their housing market. The Financial Times reports, “The problems in China's housing market are more severe that those in the US before the financial crisis because they combine a potential bubble with the risk of social discontent", according to Li Daokui, a professor and an adviser to the Chinese central bank. “The housing market problem in China is actually much, much more fundamental, much bigger than the housing market problem in the US and UK before your financial crisis," said Li Daokui, a member of the bank's monetary policy committee. "It is more than (just) a bubble problem”.....Read the entire article.
With 4 hours MACD crossed below signal line, intraday bias in Crude oil is turned neutral. Break of 71.23 minor support will indicate that rebound from 64.23 is finished and will flip intraday bias back to the downside for retesting this low first. On the upside, above 75.72 will bring another rise, but after all, upside should be limited by 61.8% retracement of 87.15 to 64.23 at 78.39 and bring fall resumption.
In the bigger picture, prior break of 68.59/69.50 support zone affirms our view that whole medium term rebound from 33.2 has completed at 87.15 already, just ahead of 50% retracement of 147.27 to 33.2 at 90.24. Further decline should be seen to 50% retracement of 33.2 to 87.15 at 60.18 at least. Also, as rebound from 33.2 is viewed as as a correction to the whole correction that started at 2008 at 147.27, we'd anticipate a break of 33.2 low in the longer term. On the upside, break of resistance at 78 level is needed to be indicate that fall from 87.15 is completed. Otherwise, we'll stay bearish.....Nymex Crude Oil Continuous Contract 4 Hours Chart.
Crude oil rose above $75 a barrel in New York on speculation that economic growth in the U.S., the world’s biggest energy consumer, will sustain a global recovery in fuel demand. Oil climbed after Federal Reserve Bank of Chicago President Charles Evans said yesterday the U.S. economic recovery will continue amid uncertainties prompted by Europe’s debt crisis. About 28 million people were expected to be on road trips in the U.S. during the three-day Memorial Day weekend, a jump of 5.8 percent from a year earlier and the first increase since 2005, according to AAA, the country’s biggest motoring organization.
“There is more of an optimistic feel toward the economy starting to creep in, particularly in the U.S.,” said Jonathan Barratt, managing director at Commodity Broking Services Pty in Sydney. “People are starting to buy up, or looking to buy, because some of these commodities are cheap. Summer drive time is always a key.”
Crude oil for July delivery gained as much as $1.20, or 1.6 percent, to $75.17 a barrel, in electronic trading on the New York Mercantile Exchange. It was at $74.44 at 11:29 a.m. Sydney time. The contract declined 58 cents, or 0.8 percent, to settle at $73.97 on May 28. Futures dropped 13.6 percent in May, the biggest monthly drop since December 2008. Floor trading was closed Monday for the Memorial Day holiday in the U.S. and electronic trades will be booked with today’s for settlement purposes.....Read the entire article.
Last week looked and felt like a pivotal week for both stocks and commodities. The past two weeks have had investors and traders in a panic as they try to find safe investments for their money. After watching and reviewing the panic selling in the market it looks as though the majority decided to sell everything and be in cash for the time being. This is bullish for the stock market.
I will admit it has been tougher to trade recently because of increased risk levels due to the large 2-4% sell offs and rallies happening within minutes… While this is amazing for disciplined and experienced traders who are able to pull the trigger getting in and out with quick profit in the matter of minutes, this same price action can blow up trading accounts of those who do not have a trading strategy, money management and the discipline to take profits and cut losses very quickly. The speed of the rallies and sell offs is the matter of being up or down thousand of dollars in the matter of 5-10 minutes… That is one of the reasons I have stepped back from being aggressive and into more of an observation mode playing with small amounts of money and focusing on the larger trends at.
My #1 goal is to make subscribers money with the least amount of risk and watching the market swing 2-4% in minutes makes it extremely difficult to get everyone in and out positions with a profit before the market changes directions. As much as I love trading, some times the best position is to have small ones or be in cash.
GLD – Gold ETF Trading
Here is my weekly updated chart of gold as it works its way through the correction from last year. The daily chart looks to be forming a larger Cup & Handle pattern which is extremely bullish. If this pattern does a text book move then we could see GLD reach $140 and spot gold would reach the $1400 area.
That being said this pattern still has to complete the handle portion which could easily last another 4 weeks, so I am not in a panic to add more to our position.
SLV – Silver ETF Trading
Silver is in much of the same situation. Because of the added volatility in silver the charts do not look quite the same but they are similar in many ways… Silver is used a lot for industrial purposes and because the economy which is very weak still (though it is getting better) we are not seeing silver demand rise much. If silver can break this large resistance level then we could see silver surge to $25 (25%) this year.
USO – Oil Fund Trading
USO (Oil) has held up really well in the past 12 months but the recent sell off has seriously damaged the bullish outlook I had not long ago. While it is oversold and looks to have started a bounce last week the chart is pointing to lower prices over the longer term… This USO fund does have contago which makes this fund under perform the actual price of oil. The current prices of oil are still trading at a key support level and could post nice bounce if not trigger a new rally. The problem with following some ETF’s which have contago is that you do not see the real price action of the commodity. But that is were I come in as I track the underlying commodity and relate it to ETFs for you.
SPY – SP500 ETF Trading
The Stock Market (SP500) sure has been a roller coaster. The chart below shows you what happened in January for the last correction and where we stand currently in comparison. If a setup is obvious in the financial market there is a very high chance it will not work out as planned and by knowing this it allows us to be cautious and take profits at key short term support and resistance levels.
Trend Trading Conclusion:
In short, I feel gold and silver will drift around to digest the recent move up and to form the handle portion. Oil looks to have put in a short term bottom and if we get a small pullback in the coming days to test the intraday chart breakout level and touch the support trend line we could look to take a position.
We tend to see the most price appreciation during the final stages of a trend and we could have seen that on the US Dollar over the past 6 weeks. It looks as though the dollar could have put in a double top. If the dollar rolls over it would help boost precious metals, oil and stocks… But we will not know it’s a top until there is a clear trend reversal which in any case will be weeks before that type of price action can unfold.
As for the SP500, we have seen the same level of selling as we did in Feb-March 2009. High volume panic selling has ruled the market since late April. There are equal arguments for saying the market has bottomed with all the panic selling and that we should start another large rally lasting 8-12 months or one could argue this is capitulation volume signaling massive distribution of shares and now every rally/bounce will be sold… Personally I am torn between the two… but lean more towards higher prices with a multi month grind up at slow rate…
Natural gas's rebound last week suggests that consolidation from 3.81 is still in progress. Further rise might be seen initially this week but we'd expect strong resistance at 4.494 to limit up side. Below 4.154 minor support will indicate that recovery from 3.986 is completed and will flip intraday bias back to the downside for 3.81/884 support zone. Decisive break there will confirm down trend resumption and should target 3.0 psychological level next.
In the bigger picture, medium term rebound from 2.409 has completed at 6.108 and the three wave corrective structure of the rebound argues that it's merely a correction, or part of the consolidation in the larger down trend. Current fall from 6.108 might extend further for a retest on 2.409 low next after sustaining below 61.8% retracement of 2.409 to 6.108 at 3.822. However, note that decisive break of 38.2% retracement of 5.68 to 3.81 at 4.524 will argue that whole fall from 6.108 has completed and will turn outlook bullish for a possible test on 6.108 high.
In the longer term picture, while the bounce from 2.409 was strong, it's been limited below 55 months EMA (now at 6.047) and reversed. The failure to sustain above 55 weeks EMA (now at 4.679) also argue that 2.409 might not be the bottom yet. We'll stay bearish as long as this year's high of 6.108 holds and favor a new low below 2.409 going forward.....Nymex Natural Gas Continuous Contract 4 Hours Chart.
In response to the BP's Deepwater Horizon disaster, President Obama has launched a 6 month moratorium on new deepwater exploration contracts and other oil drilling restrictions.
But China isn't stopping. Just this month, state-owned Chinese companies have signed contracts worth over $50 billion in Canada, Brazil, Argentina, Iraq, Venezuela, and Nigeria.
Most deal include an export clause, locking down energy supplies for the growing Chinese economy. If America's demand ever increases, these deals would present a serious problem.
And Beijing has no qualms about offshore drilling.
Crude oil's rebound extended further to as high as 75.72 last week. Though, there is no change in the view that such rebound is a correction in the larger decline. While some more rise might be seen, upside should be limited by 61.8% retracement of 87.15 to 64.23 at 78.39 and bring fall resumption. Below 71.23 minor support will indicate that rebound from 64.23 is finished and will flip intraday bias back to the downside for retesting this low first.
In the bigger picture, prior break of 68.59/69.50 support zone affirms our view that whole medium term rebound from 33.2 has completed at 87.15 already, just ahead of 50% retracement of 147.27 to 33.2 at 90.24. Further decline should be seen to 50% retracement of 33.2 to 87.15 at 60.18 at least. Also, as rebound from 33.2 is viewed as as a correction to the whole correction that started at 2008 at 147.27, we'd anticipate a break of 33.2 low in the longer term. On the upside, break of resistance at 78 level is needed to be indicate that fall from 87.15 is completed. Otherwise, we'll stay bearish.
In the long term picture, current development suggests that rebound from 33.2 is finished at 87.15, inside 76.77/90.24 fibo resistance zone as expected. Our view is that fall fro 87.15 would develop into the third falling leg of the whole correction from 147.27 and hence, we'd anticipate an eventual break of 33.2 low in the long term as such correction extends.....Nymex Crude Oil Continuous Contract 4 Hours Chart.
Sell in May and go away? That would have worked in the petroleum markets so far. Of course if you looked at a chart of the markets you might be sick to see how much money you may have given back. The bulls started the lusty month of May lusting for new highs which they got on light holiday volume as the lead month oil contract broke out to a high of approximately 8715 on May, 3, 2010. Those lofty highs were only fleeting as Greece debt fears engulfed the global market place crushing the optimism of April into the fear factor of May as oil came crashing down to what was a flash crash low of approximately 6424 on that fateful May 20,2010.This manic month of May has been gripped by fear and loathing as to the state of euro zone debt.
The market feared that the PIIGS (Portugal, Ireland, Italy, Greece and Spain) would bring down the global economy. We even had a mini “flash crash” as protestors surrounded the Greek Parliament. Oil fortunes both good and bad have been dictated by sovereign debt fears but also because of a back drop of a massive over supply.Yet oil has staged an impressive comeback. Rumors that the Chinese were going to reduce their holdings of European debt and euro currencies were denied and that seemed to ease the markets' concern. The denial sparked a massive across the board commodity and global stock rally. We also had end of the month short covering as many traders headed....Read the entire article.
Crude oil closed lower due to profit taking on Friday as it consolidated some of Thursday's rally. The low range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near term. Closes above the 20 day moving average crossing at 76.51 are needed to confirm that a short term low has been posted. If July renews this month's decline, last July's low crossing at 66.11 is the next downside target. First resistance is today's high crossing at 75.72. Second resistance is the 20 day moving average crossing at 76.51. First support is the 10 day moving average crossing at 71.83. Second support is Tuesday's low crossing at 67.15.
Natural gas closed higher on Friday as it extended Thursday's breakout above the 10 day moving average crossing at 4.247. The high range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI have turned bullish signaling that sideways to higher prices are possible near term. If July extends this week's rally, this month's high crossing at 4.587 is the next upside target. If July renews the decline off this month's high, this month's low crossing at 3.971 is the next downside target. First resistance is today's high crossing at 4.399. Second resistance is this month's high crossing at 4.587. First support is Tuesday's low crossing at 4.036. Second support is this month's low crossing at 3.971.
The U.S. Dollar closed higher due to short covering on Friday and the high range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are diverging but are neutral to bullish signaling that sideways to higher prices are possible near term. If June renews this year's rally, the 87% retracement level of 2009's decline on the weekly continuation chart crossing at 87.79 is the next upside target. Closes below the 20 day moving average crossing at 85.51 are needed to confirm that a short term top has been posted. First resistance is last Wednesday's high crossing at 87.63. Second resistance is weekly resistance crossing at 87.79. First support is the 20 day moving average crossing at 85.51. Second support is last Friday's low crossing at 85.33.
Gold closed slightly higher on Friday as it consolidates above the 10 day moving average crossing at 1202.90. The high range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI have turned bullish signaling that sideways to higher prices are possible near term. If June extends this week's rally, this month's high crossing at 1249.70 is the next upside target. First resistance is Thursday's high crossing at 1218.50. Second resistance is this month's high crossing at 1249.70. First support is last Friday's low crossing at 1166.00. Second support is the reaction low crossing at 1156.20.
John Hofmeister, author of "Why We Hate The Oil Companies", says America's politicians do more to create energy problems than solve them.
As president of Shell Oil, John Hofmeister was known for being a straight shooter, willing to challenge his peers throughout the industry. Now, he’s a man on a mission, the founder of Citizens for Affordable Energy, crisscrossing the country in a grassroots campaign to change the way we look at energy in this country. While pundits proffer false new promises of green energy independence, or flatly deny the existence of a problem, Hofmeister offers an insider’s view of what’s behind the energy companies’ posturing, and how politicians use energy misinformation, disinformation, and lack of information to get and stay elected. He tackles the energy controversy head-on, without regard for political correctness. He also provides a new framework for solving difficult problems, identifying solutions that will lead to a future of comfortable lifestyles, affordable and clean energy, environmental protection, and sustained economic competitiveness.
The numbers are out: an active storm season is predicted for the Atlantic, and natural gas related ETFs are already gearing up and moving on the news. More storms than “normal”, about 16, are anticipated to hit the Atlantic coast of the United States this season. Of these, eight are expected to become hurricanes and about four of them are going to be intense, according to the Tropical Storm Risk.
Alex Morales and Brian K. Sullivan for Bloomerg BusinessWeek reports that the forecast joins a growing number of predictions that the 2010 Atlantic hurricane season, which starts June 1, will be among the most active on record. As the number of hurricanes rises, so do the chances of one striking the oil rich Gulf of Mexico or Florida’s crop areas.
The Gulf is home to about 30% of U.S. oil and 12 % of U.S. natural gas production, the U.S. Energy Department says. It also has seven of the 10 busiest U.S. ports, according to the Army Corps of Engineers. Meanwhile, BP is still trying to cap a leaking offshore oil well that has created a devastating slick that is washing up in Louisiana. Attempts to stop the oil will be hampered if and when a tropical storm or hurricane passes through the Gulf of Mexico.....Let's go to the charts!
Crude oil rises further to as high as 75.72 so far today. Intraday bias remains on the upside and rebound from 64.24 is in favor to continue to 61.8% retracement of 87.15 to 64.24 at 78.39. On the downside, though, break of 71.23 minor support will indicate that such recovery is completed and will flip bias back to the downside for retesting 64.24 low.
In the bigger picture, prior break of 68.59/69.50 support zone affirms our view that whole medium term rebound from 33.2 has completed at 87.15 already, just ahead of 50% retracement of 147.27 to 33.2 at 90.24. Further decline should be seen to 50% retracement of 33.2 to 87.15 at 60.18 at least. Also, as rebound from 33.2 is viewed as as a correction to the whole correction that started at 2008 at 147.27, we'd anticipate a break of 33.2 low in the longer term. On the upside, decisive break of resistance at 78 level is needed to indicate that fall from 87.15 is completed. Otherwise, we'll stay bearish......Nymex Crude Oil Continuous Contract 4 Hours Chart.
If the economy bounces back and the Chinese hang onto their Euros, can oil bulls find love and happiness in this world of economic turmoil? The audacity of hope once again has crept back into the oil market. A string of strong macroeconomic numbers that blew away market expectations, as well as some strong oil demand numbers, has the marketplace trying to forget all about the fears of a global economic meltdown that has engulfed the market. For today all the subplots have been put aside for the moment as the market now wants to bask in the economic silver linings of the moment.
You know you are going to have a good day when you get a report that shows refinancings are rising and housing sales of new homes surged 14.8%. Add to that a strong durable goods number that gained 2.9 percent in April, the fourth boost in the last five months, and somehow the world is not so scary. Oh sure the Europeans have problems as evidenced by rumors that the Chinese were looking to divest themselves from Euros and it seems that the world's largest oil consumer, the USA, might lead the oil market out of its recent darkness.
That mood was further cemented when the Energy Information Agency released a report that showed some stellar oil demand numbers. Despite the fact that the EIA reported that US commercial crude oil inventories increased by 2.4 million barrels from the previous week, they also reported that the string of increases at the key delivery pinpoint Cushing, Oklahoma actually fell from its record high. Along with that the EIA reported demand numbers that....Read the entire article.
Crude oil closed sharply higher on Thursday as European Debt fears ease. Today's rally led to a close above the 10 day moving average crossing at 71.96 signaling that a short term low has likely been posted. The high range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near term. Closes above the 20 day moving average crossing at 77.22 are needed to confirm that a short term low has been posted. If July extends this month's decline, last July's low crossing at 66.11 is the next downside target. First resistance is today's high crossing at 74.68. Second resistance is the 20 day moving average crossing at 77.22. First support is Tuesday's low crossing at 67.15. Second support is last July's low crossing at 66.11.
Natural gas closed higher on Thursday and above the 10 day moving average crossing at 4.254 confirming that a short term low has been posted. The high range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near term. If July extends this week's rally, this month's high crossing at 4.587 is the next upside target. If July renews the decline off this month's high, this month's low crossing at 3.971 is the next downside target. First resistance is Wednesday's high crossing at 4.315. Second resistance is this month's high crossing at 4.587. First support is Tuesday's low crossing at 4.036. Second support is this month's low crossing at 3.971.
The U.S. Dollar closed lower on Thursday and below the 10 day moving average crossing at 86.44 warning bulls to use caution as a double top might be forming. The low range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are diverging but are bullish signaling that sideways to higher prices are possible near term. If June renews this year's rally, the 87% retracement level of 2009's decline on the weekly continuation chart crossing at 87.79 is the next upside target. Closes below the 20 day moving average crossing at 85.27 are needed to confirm that a short term top has been posted. First resistance is last Wednesday's high crossing at 87.63. Second resistance is weekly resistance crossing at 87.79. First support is last Friday's low crossing at 85.33. Second support is the 20 day moving average crossing at 85.27.
Gold closed lower due to profit taking on Thursday as it consolidates some of this week's rally but remains above the 10 day moving average crossing at 1204.40. The mid range close sets the stage for a steady opening on Friday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near term. If June extends this week's rally, this month's high crossing at 1249.70 is the next upside target. First resistance is today's high crossing at 1218.50. Second resistance is this month's high crossing at 1249.70. First support is last Friday's low crossing at 1166.00. Second support is the reaction low crossing at 1156.20.
Crude oil surged more than $3 a barrel as equities and the euro rallied after China affirmed its commitment to investing in Europe. Oil climbed 4.3 percent as China denied as “groundless” a report that it’s reviewing euro holdings and the nation’s sovereign wealth fund said it’s maintaining European assets. The euro gained 1.5 percent against the dollar, boosting the appeal of commodities as an alternative to the U.S. currency. “If China were really looking to offload euro denominated debt, that would put downward pressure on the euro, and the euro/dollar rate has been one of the key factors in oil prices,” said Adam Sieminski, chief energy economist at Deutsche Bank AG in Washington.
Crude oil for July delivery rose $3.04 to settle at $74.55 a barrel on the New York Mercantile Exchange, the biggest one day increase since Sept. 30. Futures have climbed 17 percent in the past year. The euro rose to $1.236 at 3:15 p.m. in New York, compared with $1.2178 yesterday. It was the first increase in the euro in four days. The Standard & Poor’s 500 Index gained 2.8 percent to 1,097.55, and the Dow Jones Industrial Average surged 237.53 points, or 2.4 percent, to 10,211.98. “The big news is U.S. macroeconomic data is still solid,” said Jason Schenker, president of Prestige Economics LLC, an Austin, Texas-based energy consultant. “Growth is the story”....Read the entire article.
It's been just a little over a year since we had our first major buy signal for the S&P 500 at 888.70 on 5/4/09. Since that time, the S&P 500 has climbed approximately 61.8% from the lows that were seen in early March of '09 and the highs that were seen in October of '07.
We take our "Trade Triangle" technology very seriously and this signal today (5/25) at 1044.50 is our first major sell signal since 7/1/08 at 1,272.00 and should not be ignored.
There are a whole host of problems that are coming due around the world that will have negative consequences for the equity markets. The problems in Greece and Europe are well known and are likely to continue for the balance of the year. This is going to have a negative impact on markets in general.
In our new short video we show you exactly what we think is going to happen to the S&P 500 market and just how you can protect yourself if we are correct. As always our "Trade Triangles" will dictate all market action. At the present time all of our "Trade Triangles" are negative and pointing to the downside. This indicates that a very strong trend is in place and it likely to continue.
Many traders, especially younger traders, are unaware of how bear markets work. Bear markets tend to be demoralizing as they do not have any strong and sustained rallies. They tend to erode as more and more traders become unnerved and throw in the towel.
We invite you to take a look at this new video with no registration and no charge.
