Don't Blame the Euro

Last night (in the wee hours of the morning) Oil, copper, gold and silver had fallen in Asian trade, they recovered by the US open, but are slipping again, as the USO short term charts published this morning suggested. We haven't gotten to the others yet, but take a look at these 4.

 Copper is falling faster then the Euro.

 Gold is negative on the day (remember last week's analysis, gold may be in a potential bubble or intermediate top) and gold is falling a lot faster then the Euro.

 Silver which has looked better then Gold lately has just gone red and is dropping much faster then the Euro.

And surprisingly after this weekend's events, and as short term 3C charts suggested, USO is falling, it was falling in line with the Euro, but has now stepped up the momentum to the downside. It's probably time to look at Credit/Risk indicators.