Tuesday, September 8, 2009

Today the dollar took out its double bottom and sold off hard after comments from a United Nations Conference on Trade and Development suggested that a new global reserve currency is needed to restore confidence. The USO reversed and made a nice move to the upside today. The GLD began to break out on its daily today only for sellers to step in and slam it down to close near the lows of day during the session, but traded up in the after hours session. Below are key levels on the UUP, USO and GLD.

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