PepeInvestmentGroup
Short

NOK has potential for long term downtrend thx to Brent oil slump

FX:USDNOK   U.S. Dollar/Norwegian Krone
25 0 2
OANDA:BCOUSD             has decided to consolidate sideways regardless of typical US holiday rallies, along with the huge oil             deposit finding in Texas + overall shale/natural gas boom in the Dakotas/Canada, the overall supply of oil             is vastly increased yet the demand from traditional sources is in decline, thus this will create a downward trend for oil             prices in the coming months unless international and government sources manufacture artificial scarcity. Because oil             is down, NOK             will follow it's pattern downwards instead of breaking the green line. Expect a good long term shorting position to open in the first weeks of Dec. as oil             prices hit the 8.6ish barrier. Should oil             prices rally through the green resistance line, expect a historic rally on the USDNOK             which will push prices past their 10 year high.
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