Charts I’m Watching: Jan 30, 2017

CL is on the verge of rolling over, even as the ramp in USDJPY that helped prop up markets on Thursday and Friday is settling back for at least a backtest. 2017-01-30 USDJPY 60 0615The net result is that we’re finally getting some follow-though to the sell off we anticipated last week.

Futures are currently off about 8 points, after selling off as much as 10 points overnight. Our downside targets remain essentially unchanged.

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