Kimble Charting Solutions Blog

Dollar channel test

Posted by Chris Kimble on 11/18/2010 at 9:00 am; This entry is filed under Dollar Update.

The pre-market rally this morning has much to do with the situation the Dollar has created of late. See below...

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Line (2), in my opinion is a very important line in the sand.  Line (2) was resistance and often, resistance gets tested as support.  The large gains in the inverse grains/commodities will be reduced this morning and stops may force gains to be taken. Will update later as the day goes along.

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