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Oil should head back under $60 according to AUDUSD

CFDs em Petróleo Bruto WTI (TVC:USOIL)  
GTStockmaster  
TVC:USOIL   CFDs em Petróleo Bruto WTI
Trend Analysis Technical Indicators Beyond Technical Analysis Oil aud AUDUSD Crude Oil WTI WTI brent brentoil crude Crude Oil
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trendanalysis indicator beyondta oil aud audusd usoil wti brent brentoil crude crudeoil
Correlation divergences are important to look at. In this instance, we view the AUDUSD rate as a clear proxy for oil prices, in which a big divergence has occurred recently. With the drop in gold and copper also mirroring AUDUSD, it seems quite likely that OIL will soon head south as well, going below $60 at the bare minimum. Oil has seemed to lag the rest of the commodities when it comes to price swings, so it's not surprising that it has yet to drop back down.
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