U.S. Producer Price Index (PPI) to Be the Driver of USD Trading Today

Crude Oil:

Crude Oil is displaying significant bearish signals after yesterday’s failed breach of the $80 price level. The 4-hour chart has the pair trading in the overbought zone on the pair’s Relative Strength Index, indicating a possible move lower. The chart also shows a bearish cross has formed on the Slow Stochastic Oscillator that may support this downward move. Forex and commodity traders may want to be short on Crude Oil today as a significant price move may be in the making.