VelocityShares 3x Inverse Crude Oil ETN (DWT)

[Smittle]

Risk Is Way Off as The Greenback Dominates Movements and Gold Prices Consolidate

Tuesday May 03, 2016 17:56

Crude oil analysts have to make you laugh. But it’s a dark joke filled with dishonesty.

As oil enters its third straight day of losses, headlines are suddenly again reading along these lines: “Oversupply Worries Traders”; “Seasonal Demand for Crude Dips as Summer Gasoline Blend Transition Tapers”; “OPEC Production Up”; “Sluggish World Economy Stifles Oil Prices.”

Ladies and gentlemen, con artists, and small traders and large – there is a glut of oil. Any relief of that glut will be temporary. While that may add volatility to the trading of crude, it won’t lift the resistance level crude is now facing. (Barring some unforeseen calamity.)



Gary Wagner
Thegoldforecast.com

http://www.kitco.com/commentaries/2016-05-03/Risk-Is-Way-Off-as-The-Greenback-Dominates-Movements-and-Gold-Prices-Consolidate.html