$UUP (Dollar ETF) and $WTIC (Crude Oil) at Support/Resistance - Charts
11/09/2010 04:22:00 AM
$UUP (US Dollar Index Bullish ETF) is testing $22 support for the third time and oil is testing the April high. The actual US Dollar Index is testing support in a multi-year symmetrical triangle. If UUP can't hold triple support it would make fresh new lows. After the jump are charts of $UUP and $WTIC on 11/8/2010 with technical indicators. $WTIC must take out $87 to break the sideways channel. For more information on the oil market read yesterday's Cameron Hanover report. Tonight the US Dollar is falling against the Yen but gaining against the Euro. Watch that USD/JPY downtrend line from September. News: Dollar Falls on New China Rules - WSJ.