OIL DUE FOR A RALLY

CRUDE/US DOLLAR INDEX RATIO: TELLING US CRUDE OIL TO RISE?

Historically the direction of the CRUDE/USDOLLAR INDEX RATIO confirms the direction of the oil price. Right now the short term InvesTRAC indicators are pointing up and the cycle model indicates strength into mid October. Have a look at the daily chart of the rratio below...notice how the ratio reversed its downtrend and ran up to encounter the ttandem moving average...it has backed away and now needs to push higher through 0.499 to open up the way for a test of the previous highs at 0.647.

CRUDE/US DOLLAR INDEX RATIO: TELLING US CRUDE OIL TO RISE?

Historically the direction of the CRUDE/USDOLLAR INDEX RATIO confirms the direction of the oil price. Right now the short term InvesTRAC indicators are pointing up and the cycle model indicates strength into mid October. Have a look at the daily chart of the rratio below...notice how the ratio reversed its downtrend and ran up to encounter the ttandem moving average...it has backed away and now needs to push higher through 0.499 to open up the way for a test of the previous highs at 0.647.