Crude oil reversed sharply to the upside last week so it seems that five waves down completed the wave 3) and the current rally is a part of a contra trend reaction.
Federal Reserve officials are renewing a debate over cutting interest paid to banks on excess reserves, a move aimed at convincing investors that tapering its bond-buying isn’t the same as tightening its monetary policy.
The stock market could use a healthy correction soon, before prices start rising at an unsustainable pace.
FEB14 gold shot up this morning, trading up $27 to $1,261. $1275 is our next key target and resistance level. Gold now looks like it could have some momentum to the upside, and possibly approach $1,290.