US Dollar Index Versus Oil Weekly View

Below is a look at the US dollar versus Oil.  We have been wrong on oil.  And it now appears a major top is in place at Wave A.  We are expecting the old correlation of strong dollar-weak oil, and vice versa, again.  To that belief, a correction lower in the dollar over the next several weeks (months) would coincide nicely with a much “overdue” correction higher in oil—labeled Wave [b].

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