Monday, October 20, 2008

Technicals On Commodity And Correlations Charts Between Eur/USD vs Oil and Oil vs Baltic Dry Index

Posted on

  • The price of a barrel of crude could lose another $20 and the broader commodity market could slump by a third as the recent downtrend is set to intensify, Phil Roberts, technical analyst from Barclays Capital, told CNBC.

    The commodity market is still very much pricing in a further slow down and the signs we're seeing at the moment suggest that the process is intensifying rather than diminishing," Roberts said while taking a technical look at the Goldman Sachs Commodities Index.

    The GSCI, which tracks a broad basket of commodities including oil, wheat and lean hogs, could lose another 30 percent to 40 percent, according to Roberts.

Check out the source which also includes a video clip:

And ironically, dearest Kathy has loaded two simple charts indicating the correlation of oil prices and EUR/USD. see:

There are two charts to note, the daily chart: and the hourly chart

And lastly, I would also note the correlation chart drawn on the oil and BDI from Kathy also. See posting for the correlation chart:


Nirman Broking said...

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Commodity Market