https://chartfreak.com/wp-content/uploads/sites/18/2015/08/Petroleum-oil-Drip.jpg 1011 1350 Alex - Chart Freak https://chartfreak.com/wp-content/uploads/sites/6/2013/04/black_logo.png Alex - Chart Freak2015-08-06 18:11:072015-08-06 18:13:46Oversold Oil
The Dollar has been strong for a long time, and the markets have gone up with it. Also Metals have dropped with the stronger dollar. This is the dollar. Is it going to BREAK OUT?
Zooming in, I see the dollar as stalling at resistance and possibly ready to drop lower.
A falling dollar is what commodities in general desperately need. $WTIC – OIL has been failing & Falling rather relentlessly, but it may finally be ready to turn higher. ( Reminder: I have repeatedly cautioned against jumping the gun and entering below the 10sma)
The weekly WTIC looks SQUEEZED – these usually break out with zest. There actually may be an ENERGY trade here.
Why not consider a membership to the Chart Freak? It’s extremely affordable and you will learn to spot great setups and trade profitably.
See our membership options here: https://chartfreak.com/my-secrets/