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King Dollar and Crude Oil have been have had little correlation over the past year, as each has traded in pretty much opposite directions.
Over the past 9 months King Dollar has had a historical rally and the opposite is true for Crude Oil.
Of late Crude hit its 23% Fibonacci resistance line, based upon last summers weekly closing highs and weekly closing low on 3/13/15.
Joe Friday just the facts….Crude oil is making an attempt to break short-term steep rising support this week and King Dollar is attempting to break short-term steep falling resistance.
Crude oil just experienced its 7th largest 2-month rally in its history (See post here) reflected in the chart below.
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Could it be a time for Crude Oil to cool off a little???
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Great update.
Everyone keeps saying this market is about to crash, what a load of crap.
Have a look at this guy from the US, his calls on the market have been killer and rediculously accurate ==> http://bit.ly/1B4K0wk
He is saying we are about to ROCKET higher on the stock market!
And to think I listened to those dummies from CNBC say the EARNINGS season was gunna be HORRIFIC!!! those buggers….I have been had yet again!! Pack
of liars….pissed me off!