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TFC Commodity Trading Forum

Re: June Crude//DX/Euro/Lee *PIC*

Just got back. Had to go and buy more ammo as I used up a lot of it in several calibers yesterday at the range. Can't stand it when I'm low on one of the calibers of ammo. Feel much better now that I'm stocked up again.

You can see DX blew through the March high of 81.06 like Swiss cheese. Between 81 and 82 is where all that resistance is. I don't expect DX to simply blow through all that trading range easily. I would expect price to resist right in this range and a pullback would likely see 80.43 again which is the breakout pt of the downtrendline and the April high which should serve as support now. So chop,chop unless something out of this world occurs. But with EC being the 1st to breakdown out of the inverse markets the direction of DX is up and the direction of inverse markets is down as far as the main trend of them goes. That won't help much with intraday trading or scalping though. I wouldn't touch the DX/EC trade now with price in this resistance range. With EC support is the Jan low area of 1.26 that I posted the other day with the EC chart. Doesn't mean it has to actually get to 1.26 as it too is in the Jan support range of 1.26 to 1.28. So any intraday trading is likely to just be a lot of chop chop from what I see. "IF" DX can clear 81.50 and hold above on each close that would be very very bullish to even consolidate there. Then you could expect to see it breakout over 82 are really run up with EC plunging below 1.26 area. Meanwhile back at the ranch its likely to be just choppy until that occurs or a pullback occurs. Notice how oversold EC is already.