CL moved slightly beyond our target at the bottom of the rising channel to test the trend line from 1998. It got a bounce there, but hasn’t broken above the LT falling red channel midline. We’ll look to see whether or not it holds at backtesting the broken red channel bottom.
Meanwhile, EURUSD’s rising channel has broken down again. The first resulted in the falling red midline being back tested — a net positive — so the bulls need a quick reversal here if the uptrend is to continue.
USDJPY continued its bounce off the SMA100, but only got as far as backtesting the broken gray channel just shy of the yellow .618 at 120.11.
DX is strengthening as EUR and JPY fall off, and has almost reached Friday’s target. It looks like too little, too late at this point. 
With the futures up 11 points, it appears likely to continue the white channel lower. But, with the other currencies poised for a reversal, I’m not so sure. It’s a good setup for a pop and drop for equities this morning. But, then again, tomorrow’s the last day of the month/quarter…
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