Commodities sticking to the trend and ignoring the data A few hours ago we had bullish news on the U.S economy, very strong jobs data and higher wages all...

Commodities sticking to the trend and ignoring the data A few hours ago we had bullish news on the U.S economy, very strong jobs data and higher wages all better than expected. The reaction in the commodities markets was surprising, Gold, Oil and Copper all moving lower which can be seen in the chart below. Good for us while we continue to hold our short positions. The lesson is that the prevailing trend in market prices is more often than not stronger than news against the trend. Although with every lesson the market provides, there is always an exception. The caveat here being that the US dollar and interest rates shot higher on the positive data - as the expectation the Fed will tighten sooner if the economic data continues on the upside. Read more... (VIEW LINK)