Long Term Picture Of US Dollar, Crude Oil And Gold

The dollar looks set to challenge 2013 highs.

US_Dollar_2011_July_2014

 

Crude oil hit support with its recent move lower. I’m not convinced it will hold.

Crude_Oil_2008_July_2014

Gold is at a similar junction where the recent bottom seems too obvious. 

Gold_price_chart_2008_July_2014

 

My best guess is that in the short term we’ll see dollar strength and oil & gold weakness, or sideways action in these commodities.

 

By Jeff Pierce from Zentrader, chart courtesy StockCharts.com

 

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