InvesTech - Chart of the Week - 11/29/10
Charts courtesy of James Stack InvesTech Research

Crude oil prices bounced up last week as economic data releases signaled further economic growth. Prices are just above the upper bound of our target range of $60 to $85 per barrel. Going forward, the overall outlook for global growth will continue to drive the price of oil and we’ll be watching this closely over coming months. Stay tuned for updates.

The U.S. dollar continues to gain ground on geopolitical uncertainty in Asia, as well as European debt concerns. Currently the U.S. dollar remains above 2009 lows, which gives the Federal Reserve leeway to implement a degree of monetary ease going forward. We’ll continue to watch this key economic indicator closely over the months ahead..


