Trading Commodity Update for GLD, SLV, USO & UNG
Last week commodities moved higher as investors started buying into the recent pullback in prices. This is a healthy sign for the overall market. This is a quick update for gold, silver, oil and natural gas short term traders.
GLD Gold ETF Trading Chart
Gold has provided us with two great trades this year. Both trades lasted only a few weeks and we locked in profits on technical breakdowns. Many of you have been asking when we will get a short signal (make money in a down market). Well, I don't like shorting a commodity that is in rally mode. KISS is my mentality and trading only with the major trend is what I focus on.
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