Monday, July 20, 2009

Dollar Index Approaching Near Term Support and Lows (Chart)

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The Dollar Index (DI) is approaching its near term low of 78.34 made back in June, and 77.68 in December.

Back in March, a breakdown in the DI signaled a big break in the stock market. Will history repeat itself?

THE DI is a somewhat oversold here, so it should hold in short term.

This area and the resulting trade should be watched closely by investors.

The DI traded down to 70.69 in March.

Dollar Index Weekly Chart

Dollar Index Weekly Chart 720

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