Intraday Market Thoughts
Archived IMT (2009.09.11)
by
Sep 11, 2009 14:44
Oil breaks above the interim resistance of $72.40, adding robustness to the weekly chart, which would pave the way for $73.50 as the next barrier. The 200-week moving average stands at 74.76 and has yet to be broken since October 2008. Conversely, the VIX drops could retest its own 200-week MA, currently at 23.17, a trend not broken since June 2007. USDCAD is vulnerable to 1.0715-20, while CADJPY eyes 83.80.
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