ZLBT Chats

Thursday, November 4, 2010

Fed's Announcement Effects On Crude Oil And US Dollar

US Dollar Index
The Fed is planning to go ahead with more quantitative easing, but amounts mentioned so far are unlikely to have much of an impact.
The US Dollar Index broke support at 76.5, offering a short-term target of 75.0 > 74.5*. Respect of the declining trendline by Twiggs Momentum (21-day) would warn of a strong primary decline.

Crude Oil
Nymex WTI Crude is headed for a test of resistance at $87 per barrel. Breakout would offer a target of $107*. A Twiggs Momentum (21-day) trough that respects the zero line would confirm the primary up-trend.


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