Oil Likely To Fall Much Further

Jon Blogosphere, Energy, Market Commentary

The following is an excerpt from this weekend’s Astrology Traders update.
The Dollar
The media narrative for a strong dollar continues unabated, while oil, the commodity backing the dollar, is falling through the floor of price support. According to Jeff, oil is potentially headed to $20 dollars a barrel near its 2002 lows. It does seem a coincidence for oil prices to plunge through long time support levels at $35 dollars a barrel on January 6th, the date I have highlighted as critical for THE DOLLAR!

This post was published at ZenTrader on Jan 10, 2015.