U.S. crude oil prices rose on Friday on the prospect of better relations between the U.S. and China. September futures (/CL) rose 0.7% to $65.91. Light sweet crude has been weighed down by signs of weaker demand, the Turkish currency crisis, and a stronger dollar, which helped oil futures drop 2.5% on the week. After setting a new 52 week low on Thursday, Gold (/GC) has found some footing over the past two days and is currently trading near $1194 per troy ounce.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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