Stephen Pope, Managing Partner, Spotlight Group sees no chance of oil returning to $147 levels in our lifetime. In the midterm, Pope believes Shale output would overshadow OPEC’s efforts to support prices via output deal. Improved drilling methods would only make matters worse.
Pope also talks about gold being sandwiched between 50-DM and 200-DMA. He says today’s health care vote would determine the short-term/medium-term trend in gold. The segment is hosted by Bill Hubard, Chief Economist, TRADE.com.