Retracement In Progress...

Another day of small corrections in the silver market. I'm still not seeing the major correction that I think it should happen. I'm still learning on how to trade under these market conditions. Very tricky market I would say. Oil prices are dropping as refineries breakdown is under repair and cold weather in the Easter US will soon be over and we'll be expecting slowdown in heating oil consumption. Top of that, OPEC research directors mentioned earlier today that the supply and demand imbalances gap is drawing closer to each other. I assumed that this is only possibly in the short term but in the long term, the gap will continue to widen. I've tried online searching for the latest new oil discoveries that could possibly compensate the oil demand but couldn't find any in these recent years. At least, no drilling is done yet.

Some says commodity bubble will definitely burst. But I say it will not happen in years to come. Not at least until 2015. I have not made any trades today but judging from the intra day chart, I've placed several trades that I find it interesting if the silver market retrace to an attractive level.

I've placed 600 units each from 13.3000 until 13.7000.

Comments?

Happy Trading!