WTI vs. US dollar; which one Trump breaks first?
Today's volatility spectrum was not expecting any major deviation until Donald Trump changed the landscape in less than a minute as he was on the wires extending his campaign promise to clock into 'corporate taxes' and massive investment from the oil industry.
Two assets; Leg up or down
WTI managed to trade above water as prices closed today's session at $53.12 handle. On the other hand, the US dollar got a much-need, but unexpected boost as soon as Trump hit the wires. However, today's impetus during the NA session may be short-lived if by those same 2-3 weeks the new US administration fails to deliver a relevant tax package.
Trade still at the top of Trump's agenda
Technical levels to consider
In terms of technical levels, upside barriers are aligned at 55.22 (high Jan.1), then at 59.66 (high June 28, 2015) and above that at 65.43 (high Dec.7,2014). While supports are aligned at 50.70 (low Jan.8), later at 44.80 (low Nov.27) and finally below that at 41.09 (low Aug.7).

In term of technical levels, upside barriers are aligned at 101.01 (high Jan.29), then at 101.72 (high Jan.15) and above that at 102.95 (high Jan.8). While supports are aligned at 99.19 (low Jan.29), later at 98.22 (low Oct.23) and finally below that at 96.95 (low Oct.30).

Dollar Pops as Bulls Smell Tax Cut, Abe/Trump Meeting Next