Dollar Index & Crude Oil Futures Technical Prep

815am EST

Dollar index is trading
higher this morning after a drop off the highs from Thursday. 
We can see the trigger-zone resistance overhead along with the highs of
the price wedge and the double-top resistance. 
We know right now the dollar index is coming into resistance and this is
likely to stall this price from moving higher and possibly giving us a price-reversal.  If price rises we look for the price-reversal
and if price falls we look for the PHOD to act like a price magnet and draw the
price down to 83.255.  If you understand
the dollar index correlation we know that if the dollar index rises we continue
to sell short, and if the dollar index falls off the highs we will then look
for buying opportunities today.

830am EST

Crude Oil futures are
trading in a strong bullish price channel, inside the trading range from Thursday and just off the recent higher-highs
which has created a short price wedge.  This
is considered a bullish price wedge so the high-percentage trades are buying at
the lows, or buying at support.  Remember
to keep an eye on the PLOD, and if we break below the PLOD we know the sellers
are very strong and we will continue to sell using our wave patterns.