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Message: The US dollar being pressured will help oil

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The US dollar being pressured will help oil

posted on Nov 28, 08 06:05AM

Well a weaker dollar can help push oil prices higher. The $ is showing signs of weakness with resistance seen at 86.40 whereas support seen at 84.70. So depending on how liquidation from Central Banks continues and the holiday season selling goes, the 1st quarter of 09 could put the dollar on life support which will help hard assets like oil.

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