Tuesday, May 12, 2009

Dollar values abound./overnight traders adjust stop up again 59.55 oil at 59.64


The dollar must be discussed it is in a downtrend and oil has an inverse relationship to the greenback here. As the dollar gets pounded it breathes new life into Crude-Some argue that oil was lifted to its last bull market by the weak dollar and the same thing has happened here. We have heard some argument claiming we are topping out here as well but far more evidence points higher to me we still trade mind you and as always with discipline employing stops on every trade.     

the chart to the left depicts oil trending underneath we compare trends of the dollar verses the Yen