Commodities have been under pressure over the past few weeks in the wake of a strong U.S. dollar and uncertainty around the Fed’s monetary policy. Tom Vitiello of Aurum Options Strategies tells TheStreet’s Jill Malandrino gold has held steady, and if the Fed is dovish, there may be a strong short covering rally. On the flip side, if the Fed is more hawkish, you may see a quick move lower, but because the market is so short, that may be short lived. The key level is $1,130. Mike McPartland of McNamara Options breaking down below $48 with little support is not a good sign for crude. He thinks crude will continue its slide if fundamentals remain the same and $38 is a very real level to the downside.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
