Wednesday, July 15, 2009

U.S. Dollar - Under selling Pressure



I just wanted to make a quick comment about the U.S. Dollar. You'll notice in the above chart that the greenback is attempting to break free of its 1 month consolidation. If the selling continues, this may provide support for some commodities such as gold and oil.

2 comments:

Anonymous said...

Some great posts , much appreciated . Seems to me the market is being led by oil . Any thoughts on oil as we move forward ?

Kevin said...

I don't think oil is leading the stock market. I'm looking to buy oil but as of now I don't have any buy signals. I'd like to see USO consolidate a little bit more and then break out of the consolidation. Right now I'm on the sidelines and patiently watching.

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