Wednesday, August 6, 2008

The mighty dollar

I'm sure the keen ones (:-) have been noticing how certain things have been moving in unision...dollar strength, euro weakening, oil and gold weakening, US equity strength, etc. Well, I think we are on the verge of the ending of that phase. Check out these graphs and see how they are stretched at the extremes of their bollinger bands and/or at major resistance/support. I expect dollar index finds major resistance at 74.31 and high rsi, euro macd moves back to normal, gold find support at 200dma low rsi, and moves back up to atleast test 50DMA. In short, I think long commodities soon. Here are the graphs...as always, for any questions pls post comments on the blog itself and i'll answer them to the best of my knowledge.



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