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Technical analyst and frequent guest guru Chris Kimble weighs in on the direction of the Dollar and its potential impact on Commodities.
Chris comments: Last week was fairly rough for the commodities, as the CRB index fell over 3%. Grains, Softs and metals had a Friday that most Commodity bulls would like to forget.
Cause? Who knows! Some will point a finger at the U.S. Dollar. Attached is a chart of the Dollar, reflecting its upside action of late. Also the Dollar is now testing key resistance. If the Dollar breaks this resistance, more Commodity frustration could be in the cards.
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