Monday, May 23, 2011

Market Observations May 23, 2011

  • Crude consolidating back on the low side 97 range. Fundamental estimates have up to 107 upside range. Huge drop on open (Friday to Sunday) vs Friday huge drop on US equity open. 
  • Dollar index indicates possible resistance - watch dollar weakness reversals on majors. Major pairs shows break through on many significant support/resistance levels in favor of dollar strength. Trend seems to be strong dollar. 
  • NatGas floating above 4 still - solid support

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