Wednesday, May 25, 2011

Correction in Commodities.

 There's a positive 1 min divergence in UUP (US dollar) so I'd expect some more upside there, with downside in inversely correlated commodities.

Here's USO on a 1 min chart, in a correction now, note the negative divergence here.

Silver should see a correction as well as the rally this morning seems to be based on dollar weakness.

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