This is one of the only occasions where Ive seen this many H&S set ups fulfill themselves on one wave. Overall I am bearish on UJ and judging by the monthly we could have another dramatic fall soon.
Chart speaks for itself Pink lines are fibs off the daily
Depending on a bounce from black support line on the bottom
On the Look out for a good short move: Bearish linear regression outlook on 4hr chats on both UJ and DXY Rejected top of long term trend Breaking short term bottom trend next possible support sitting around 114.17 Not investment advice
2x top on daily Rejection from Resistance levels OPEC power but not long term control (rules aren't always followed)
As we come to a close this Friday DXY has reached its 4hr channel bottom and began a slow climb showing possible signs of a reversal in progress. With high level news coming next week could send DXY to its upper channel level + nearing rate news. USD Durable Goods Orders (JUL P) USD Advance Goods Trade Balance (JUL) USD Gross Domestic Product...
this is what happened last time in 2008 1) If rumor is true could see something huge or 2) Rumor is false and it will get ugly place your bets now....
Saudi Arabia, Iran, Iraq and non-member Russia are producing at, or close to, maximum capacity, Khelil said in a Bloomberg Television interview. Khelil steered OPEC in 2008, the last time it implemented an output cut, which was announced in Algeria in December of that year. Oil-market news: U.S. crude output rose by 152,000 barrels a day, in part because of...