Oil and gold in cyclical bull move within a secular bear market that started nine months back
Special Correspondent
Jan. 23, 2007

Oil and gold are both rallying as we mentioned in India Daily few months back. Oil can retest 57058 area. Gold can retest 660 area. Dollar is consolidating and can fasll anywhere between 83 and 84 and then get ready for the next blast off.

Oil will rise for some time to relieve the bear market sentiment that is prevalent. One of the best way to analyze the market sentiment is to hear financial radio stations and TV stations. Most of analysts that show up are wrong. When you find a consensus among these million-dollar analysts, you know opposite will happen. Also academician economists are almost always wrong no matter how many Nobel Laureates show up.

According to some media reports, Crude oil rose as demand for heating oil grew in the U.S. and Europe amid colder weather. Militants took more hostages in Nigeria, threatening supplies from Africa's largest oil producer.

Market will find reasons to rally oil and gold for now. The analytics are saying this bull move can persists for a short time but like in any bear market, it can reverse and fall apart any moment.

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