For the rest of the week, trading will be highly interesting especially for stock.
I expect stocks to rebound on Thursday and shorts will cover on Friday especially in the oil sector.
Gold will zigzag but should remains mostly down.
Here is why.
In the oil sector, OPEC countries are not at this time interested to cut oil supply to avoid Iran and USA to profit from the upward price movement HOWEVER come countries will easily figure out that they cannot any longer pump oil at a loss on every barrel and will start acting accordingly.
I would not be surprised to see numerous rumors to start in the effect of a 5% output drop and that being the case, shorters will be more interested to cover their butts and avoiding getting squeezed on a Monday morning trying to cope with a 5 to 10% increase on oil barrel meaning a 15 to 20% increase on oil producing companies.
I may be simply dreaming in here but Monday will come fast enough.....
Have fun trading
I expect stocks to rebound on Thursday and shorts will cover on Friday especially in the oil sector.
Gold will zigzag but should remains mostly down.
Here is why.
In the oil sector, OPEC countries are not at this time interested to cut oil supply to avoid Iran and USA to profit from the upward price movement HOWEVER come countries will easily figure out that they cannot any longer pump oil at a loss on every barrel and will start acting accordingly.
I would not be surprised to see numerous rumors to start in the effect of a 5% output drop and that being the case, shorters will be more interested to cover their butts and avoiding getting squeezed on a Monday morning trying to cope with a 5 to 10% increase on oil barrel meaning a 15 to 20% increase on oil producing companies.
I may be simply dreaming in here but Monday will come fast enough.....
Have fun trading
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