John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: roguedolphin who wrote (17598)	1/11/2016 6:31:28 PM
From: John Pitera	4 Recommendations Read Replies (1) of 33421

Yes the $/CAD is really getting killed... The 10 year weekly chart keeps hitting and going through the lower Bollinger band. and the RSI has made a lower low showing increasing momentum versus the Oct decline. that shows really significant weakness. Dennis Gartman commented that the Canadian crude grade is selling for $14 ..... he said it's usually $7 or $8 below WTIC...... and it's at a $17 discount.... and China is said to have topped off their strategic Petroleum reserve. going back to the Canadian Buck you can see how volatile it is with it way up at 1.10 back in 2007 when Crude was going very strong as were all commodities.. and Now with Crude and commodities getting slammed so is the CAD.... The EEM emerging markets etf is already back at it's August low weakness in the commodity area Crude Hitting it's below it's lower momentum band again......Bollinger Band and making a new momentum low on the weekly chart... in that it's has a more powerful momentum than in the Nov- Dec decline.... with the Bollinger bands when the price goes break below it and if you want to see bottoming action you then look to see a new low in price where it is staying within the BB....... JP

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