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MacroVoices #344 Alex Gurevich: A Deflationary Depression Lies Ahead

Macro Voices

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Is the Dollar Rally Resuming or a Major Trend Reversal Point?

The dollar index just is expected now the question is whether the rally resumes or if this was a major top and a trend reversal point it's still too early to tell that from the chart. The real hurdle for me is the 90 dollar level largely because a huge amount of the volume through July and August transacted around 90  and there was a big consolidation in that zone. Nick you know I'm pretty impressed that the bulls were able to clear the 85 level on the upside obviously OPEC being talked about has put this to the forefront and traders are starting to track this. If oil was to reject below 90 dollars then the primary downtrenders remains intact.

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