I do all of my trading in crypto and have for the last 8 or so years. I am not sure how the petro-yuan is affecting the oil markets having gone live a day or so ago. I did see a spike in gold the same day though. Thoughts?
RE: Crude Oil March 28/19
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Crude Oil March 28/19
It's too early to tell but it will be interesting to see how much liquidity it has as time goes on. Looking at the weekly chart gold is not in a clear trend at the moment and I don't see the petro-yuan changing that right away.
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I see that it's down again. It was just coincidence that gold had jumped the same day as the petro-yuan went live.
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Gold needs to break out above the 1400 level convincingly before I could start getting excited for a bullish scenario. It's just been a dog for so long. So many false breakouts etc.
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