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Crude Oil Aiming Lower, US Dollar Rally Pauses at Six-Week High

From dailyfx.com

US DOLLAR TECHNICAL ANALYSIS – Prices continue to advance as expected after putting in a Bullish Engulfing candle pattern at support set from October 2013. A daily close above the 23.6% Fibonacci retracement at 10456 has exposed a horizontal pivot at 10481. Pushing further beyond that targets the 38.2% level at 10513. Alternatively, reversal back below 10456 opens the door for a challenge of a rising trend line set from the July 1 low at 10447. S&P 500 TECHNICAL ANALYSIS – Prices put in a bearish Evening Star candlestick pattern, hinting a move lower may be ahead. Negative RSI divergence bolsters the case for a ... (full story)

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