Crude Squeezing Up As The Dollar Backs Off

1 min CL 

Watch the dollar as it has broke down out of the tight trading pattern its has been fractaling in the past 4 hours.. 77.40 failed.. 77.20 was the big level which held this morning.

as for crude.. the 99 level is magnetic... pressure is lightening up as the dollar falls. buyers moving back in to gold as well... ebb and flow... i think the 4% down move in crude today was a bit over done.. and smelled fishy.

notice the break of the trend line i highlighted...

DX 5 1 min 

Posted in: Chart,crude oil,dollar futures,late night market update