Greetings once again, Everyone!
We check in with Crude Oil and The Loonie, as their “Inverse” Correlation is “Unwound” as we move ahead.
Here are The Captures for Levels of Reference, so give them a Click… Post-Time is 16:25 GMT.
Crude looks to Clip the $70.30’s Dynamic Resistance Area, as Price “anchors” along the Bullish Trendline as It works through an Ascending Triangle Formation.
A Clip brings the $72.00 Handle into View…while Rejection sees a Violation of The Triangle and a visit to the $66.50’s Support.
The Loonie follows a similar Ascending Triangle Formation… when an “expected’ Correlation would be Canadian Dollar Strength moving towards the 1.1400 Handle of Support by this point… relatively speaking.
Price may simply continue to remain “Unwound”, as The Lonnie Accumulates here from the 1.1520’s “Transitive Rollover” Area.
As always… please join me again in this somewhat “Tepid” Day… as we may see some Covering soon after Big Ben escapes “The Electric Chair” on The Hill… with those Genius Financial Luminaries that we call Congress.
We see solid Crude Strength… and at the same time… Solid Dollar Strength in the USD/CAD Unit.
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