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Hansen: My oil and gold trading strategy
Gold is struggling and has broken a key resistance level and the spread between WTI and Brent Crude is widening. So how should you be playing these unpredictable markets? Saxo's Ole Hansen sets out his commodity trading strategy for the next few days.
Gold in particular has continued to lose ground. Ole says there is the potential for the metal to fall to $1,223 as the options market is showing the risks are clearly skewed to the downside.
As the difference between WTI and Brent hovers around $10, Ole says this could be a good time to sell into that spread. Alternatively, you could look solely at WTI and look for weakness around the $101 / barrel level as that could be a good entry point.
Ole also looks at natural gas, which has risen heavily these past few days. And corn is also on his radar; it's at its lowest level since August 2010.
02:07 minutes
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