The ICE Dollar Index:
Short-term pause within a strong uptrend.
This corrective decline will not compromise the weekly bull flag objective of 84.42 as long as the Dollar Index remains above 80.80.
Invalidation: a close below 80.80 would invalidate the bull flag and point to a test of support at 80, then 79.73.
Impact on commodities:
Short-term weakness in the ICE Dollar Index, coupled with the approach of month-end, quarter-end and a long holiday week end may have all contributed to today’s higher close in most US based commodity futures.
Provided by NewEdge USA, LLC
ALL KNOWN NEWS AND EVENTS HAVE ALREADY BEEN FACTORED INTO THE PRICE OF THE UNDERLYING COMMODITY