Oversold 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?

USD 8-5

Zooming in, I see the dollar as stalling at resistance and possibly ready to drop lower.

USD 8-5 (2)

 

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)

WTIC 8-5

The weekly WTIC looks SQUEEZED –  these usually break out with zest.  There actually may be an ENERGY trade here.

WTIC WKLY 8-5

 

 ~ALEX

 

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