Hi to All !

Today I would like to introduce a somewhat semi-regular Feature on the Blog!

In a joint effort with my friend and author of the “Forex Advisor” Blog and Resident Advisor right here on FXstreet, Valeria Bednarik, I will be doing a Crude Oil Post a few times a month when necessary.

Now…A Caveat here.

I will not always be referencing our Crude/Canadian Dollar correlation criteria, as I feel it is important to see Crude Oil on its’ own merits.

Most of you know I enjoy correlations, but in this case…I would like to use these particular Posts for what we actually correlate with!… Crude…the Dow…S&P 500…Gold…etc.

So let’s check on “Black Gold”…Crude Oil, and then we will follow up with “Godzilla” and our Dollar Yen analysis from yesterday.

 We have been speaking quite a bit about both of these Units lately in our FXstreet Premium Sessions, so I thought I would combine them today.

(click once for captures and remember…this Chart is the January 2009 front month Futures, so yours may vary a bit…)

 Crude Oil continues its’ massive “Inverse “V” Top” Reversal on the Monthly view ( not illustrated), and we continue to slip and slide down the Ski Slope here.

Even though we have a Daily chart here…you can clearly see the Market sentiment!

The “Bear” is insatiable here…so stop feeding him your Crude!  

Tomorrow, we have the weekly Crude and Distillates Data Points released @ 15:35GMT by the Energy Information Administration.

With a touch of a 3 1/2-year Low yesterday @ 47.36 on the NYMEX Crude Futures…do not expect a massive appreciation here in Price per Barrel.

The Hourly below simply verifies our views and perspectives.

OPEC can do what they want and say what they want.

Crude Oil is largely ignoring any Fundamental Body and their activity anyway!

Now…let’s see how our buddy, “Godzilla” (USD/JPY) is doing rolling through Tokyo!

Well…there you have it.

One “Big Black Monster” (Crude) that is depreciating moment by moment….

One “Big Green Monster” (Yen) that is appreciating moment by moment….

Hmmm…is there a relationship there somewhere?