alanposner
Short

Oil is rolling over and Loonie is consolidating

BATS:USO   UNITED STATES OIL FUND
193 0 0
All the focus is rightly on the ECB tomorrow and whether they will begin buying bonds by the truck load or by the shovel load. A truck load will likely make the market happy at least in the short term whereas a shovel load will disappoint. Either way crude oil             is moving lower and soon.
The market has been pricing in significant easing on the part of the US Federal Reserve and ECB but so far it hasn't happened. Perhaps the market thinks it has gone too far to fast in this recent retracement of the sell off from 5/1 to 6/28 and it needs to give back some of its gains considering the weak economic climate and the lack of an active stimulus.
Either way the Canadian Central Bank left rates at 1% today and the USD/CAD             moved higher. they indicated in the statement they may move to raise borrowing costs in the future as concerns over inflation are still present. The consolidation from August 16th continues and should setup a reversal if price can close above $1.00 which seems very possible.

http://www.sealionllc.com
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out