Thursday, January 28, 2016

Dollar Index/Barrel Head and Shoulders Pattern?

www.stockcharts.com

If you look at the Dollars Index/Barrel there looks to be a Head and Shoulders Pattern forming.

Will the ratio bounce at the middle of the Bollinger Bands (green circles) and return to the upper range (dark red circles) or break through (orange circles) and test the bottom of the range (yellow circles)?

Since I believe the Dollar has been as big a driver of low oil prices, one of the major factors pushing a big short covering rally seems to be in place.
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1 comment:

  1. Clara MellorNovember 6, 2017 at 2:27 AM

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