Today’s message about the Oil Trading Alerts is going to be short as Nadia Simmons is not in the position to write the regular issue in full today for health reasons. Still, she is keeping an eye on market developments, and has sent in the following summary.

Yesterday, oil prices have approached our waiting order, and today's upswing attempt has definitely taken us out of the market. While yesterday's close marks a breakout above both the declining red resistance line and the yellow resistance zone, the 61.8% Fibonacci retracement has stopped the bulls earlier today. Black gold looks hesitating as we speak (trading at around $60.45 currently), and the upcoming closing prices will provide a clue as to the bulls' strength regarding the breakout mentioned above. Therefore, opening a position is not justified right now. As always, we'll keep you - our subscribers - informed.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA
Editor-in-chief, Gold & Silver Fund Manager