3 Jul 2013
Oil pops above $100
FXstreet.com (Barcelona) - The west Texas intermediate crude future contract for August is last trading shy of the $100.50 mark, printing fresh highs since September 14, 2012 according to CNBC news.
Oil closed Tuesday in NY up +1.6%, adding now an extra +0.9%, while Gold is last trading near session lows at $1243, off yesterday's highs at $1268, making the Gold:Oil ratio to dive again near the 12 mark, at multi-year lows.
Silver in the other hand is holding above the 19 round mark, last at $19.44 spot. In case staying above the $19 round, it might be building a short term reversal pattern in the form of an inverted head and shoulders, with neck line around the $20.20 ask.
Oil closed Tuesday in NY up +1.6%, adding now an extra +0.9%, while Gold is last trading near session lows at $1243, off yesterday's highs at $1268, making the Gold:Oil ratio to dive again near the 12 mark, at multi-year lows.
Silver in the other hand is holding above the 19 round mark, last at $19.44 spot. In case staying above the $19 round, it might be building a short term reversal pattern in the form of an inverted head and shoulders, with neck line around the $20.20 ask.