With the fed about to meet soon traders are looking to see what they'll do.Will they keep cutting rates to stimulate the economy and in the same time devaluing their USD which helps the price of oil inflate?
OPEC won't increase production, thats a given because of the weak USD.
I expect another small cut of rates in the US with a bit more of a fall in the USD then a small rise to about $130 a barrel for oil.
The djia chart is another waiting to see what happens.Resistance or suports have been moved since a rise through 12750 imo with a small ascending triangle in play(maybe)looking to make or break it in next two- three sessions.
critical point in dow
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Last
26,683 |
Change
82.730(0.31%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 26,683 | 0.00 | 0.00 |