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Tuesday, 6 September 2016

Crude Oil Technical Analysis: 6 September 2016, Tuesday, 8.14am Singapore Time

Crude Oil Technical Analysis: 
6 September 2016, Tuesday, 8.14am Singapore Time

Attached above is the technicals for crude oil:
* Crude Oil has bottomed
* Bullish Wedge (Significant and large)
* Bullish Wedge has broken up
* Reversal for the upside has taken place
* Added more Buys.
* Minor support has been formed at $40.00 and $45.00. More and more minor supports and major supports will be formed to launch more upmove beyond $50.00 and beyond $60.00.


  1. Hi Don,

    Very interesting article. I am curious here. If the USD goes stronger e.g. interest rate hikes etc, wouldn't it would be bad for commodities like oil since they are USD denominated? Also, what is the effect of strong USD on equities? Is it an inverse relationship as suggested by some? Hope to hear from you. Thank you.

    1. There is a high possibility that all the rate hikes for most of 2017 had been priced in already or even overly baked in during the 2015 and 2016 USD price movement. The USD may hence execute the most treacherous sell-on-the-news of a rate hike since it had been priced in or overly priced in already. The pricing in had been done due to all of the FED's cats (through the FOMC) that had been kept letting out of the bag for the market to see. Yes, very cute cats for the market to admire and price in. It is actually a kind act and ensures that markets will be orderly and not chaotic. Nasty sell-on-the-news for the US Dollar can be a killer to most of the market participants out there who had indeed bought US Dollar late using "logic" and shorted stocks, commodities and crude oil in 2016 late too. Stocks and Equity shorts that had been rampant in the worldwide financial markets will be squeezed big time in 2017 because most people did the correct logical thinking. Unfortunately, markets like to punish the majority who are logical and sane. Only the minority who chooses to be insane and on the illogical side wins. This is the market order.

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