Author Topic: Oil could make terrifying move higher in price  (Read 497 times)

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Offline Matthew

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Oil could make terrifying move higher in price
« on: November 08, 2010, 06:51:48 AM »
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  • Oil Could Be On Brink Of Terrifying Move Higher
    November 5th, 2010

    A bit over a week ago, I wrote, “Either that USDX support I’ve been mentioning holds, or we could see oil back over $100 in a few weeks.”

    That support is, as of now, fully breached to the downside. And you know about the inverse relationship between oil and the dollar: Dollar lower, oil higher.

    If it breaks above the horizontal resistance line indicated…

    This is the most frightening chart I’ve posted in a couple of years.

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