Is U.S. Dollar Collapse, Crude Oil Skyrocket About To Happen?
Chris Kimble | Jan 13, 2021 12:22PM ET
Is the U.S. dollar about to collapse? Are crude oil prices about to skyrocket?
h5 /h5 h5 Well, if these price movements are to take place, 12-year trends have to change!/h5Since 2008, the U.S. dollar has created a series of higher lows and higher highs inside of rising channel (1). At the same time, crude oil has created a series of lower highs and lower lows inside of falling channel (2).
Counter-trend rallies by each have the U.S. dollar testing support and crude oil near resistance, at the same time.
As these support/resistance tests are in play, few are bullish dollar and few are bearish crude oil.
The results of the price action by the dollar at support and crude as resistance in my humble opinion is a very big deal friends!
What happens here should have a large impact on what assets you should be over and underweight for potentially years to come.
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