Alessio Rastani, an Independent Market Trader with LeadingTrader.Com, joined Tip Tv to share his observations on the oil market and gold prices.
Crude oil seasonality being seen
Rastani looks at the historic prices of Crude oil, and says that Crude oil seasonality is being seen. He sees the previous price action and suggests upside potential for crude prices in August – September. Rastani mentions that this seasonality also goes with his view of oil being oversold. He further sees an upside correction towards $50 area and prefers to use this rally to build shorts on oil prices, with seasonality suggesting that October-November sees a dip in prices.
Gold prices and stocks: Get ready for some quality buys
Rastani feels that lower levels in Gold prices and Gold stocks seem to be a good opportunity to enter into a buy trade, but we are still moving towards that opportunity and aren’t there yet.
Rastani believes that the markets will have a good opportunity ahead to buy both gold and quality gold stocks as long-term the precious metal will rise. He further advices to look for bottoming patterns by end of the year before jumping in to buy Gold.
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