Gold and Oil

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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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denby45

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Gold and Oil

posted on May 18, 2010 08:11AM

Looks to me like Gold has ran out of steam for the moment and with July and Aug. WTI inching their way north, it appears the manipulators may have switched their focus back to oil. There was no support for the yellow metal at it's previous Dec. high of 1226. Broke back below this level quite quickly so a further correction should be expected from here. Dollar is also showing some weakness which under normal circumstances would bode well for oil.

What do I know anything could happen but if I was long I wouldn't be reducing right now.

Den

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