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PowerShares DB US Dollar Bearish ETF Message Board

  • maxcharts1 maxcharts1 Apr 21, 2011 4:49 AM Flag

    Watch UDN in the 29.00 area

    Lots of bearish divergences showing up in the oscillators on the UDN charts.Barring an event that pushes the dollar lower this down move is exhuasting.

    29.00 is a a major R point.

    For those of you who've looked at the historic charts you know that the 29.00-30.00 area has been the extreme.31.00 is the all time top on a very brief spike.If UDN moves into that area the dollar is slipping into serious trouble.No doubt we'll start hearing about a possible collapse.

    Think the Fed would let it come to that?
    No way.Not if they can actually help it.
    Maybe they can't,who knows? After all it's a currency MARKET and if shorts attack the dollar at key support......

    Anyway,gonna be interestin',that's for sure.

 
UDN
22.1699-0.0499(-0.23%)May 21 4:00 PMEDT