Thursday, July 30, 2009

Short GJ Swing

Crude Oil collapsed after inventories and consequently UC seems like it has ended the downtrend. Looking for a test of the lower Keltner to exit for my loss.

Shorting GJ for the hourly swing as VP crossed lower and we are trading at the upper keltner.

Normally it would be a bit strange to be short GJ and long GU but the markets are in a wide range this week with no clear conviction in the USD yet. Should see a return to the upper range by Friday.

Let's see what happens...

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