“The market is seeing signs of topping”, says Craig Erlam, Senior FX Analyst for Oanda, as he joins today’s Tip TV Finance Show to discuss the technical outlook for Brent Crude Oil, Dow Jones, and USD/CAD.
Key Points:
Brent Crude – looking toppy, ran into resistance quickly, signs that momentum being drained out. Fundamentally can’t see oil heading higher.
Dow – Testing a key trendline, failing to break above this will likely see a major correction. Represents confusion in the markets
USD/CAD – Trend is broken, likely to see a move to downside. Nice trade setup on the charts
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