CAN$, OIL and GOLD

Can $ dec 2 2016oil dec 2 2016gold dec 2 2016

We have not examined the correlation between the Canadian $, Light Crude Oil  and Gold. However all three are obviously important to Canada or it’s economy and therefore it seems to be a reasonable proposition that the three move in tandem, if not all the time.

     Here we have the futures of all three, starting approximately at the same time and from deeply oversold levels. There then follows a sharp rebound after which there is a retracement of about 50 to 60%. All three qualify as A-B- but in the case of Light Crude the B may not be over yet as it seems to be forming a triangle. The upshot is that the Can$ could go to about $0.83 to the US, Gold could rise to near $1500 and Oil might make it to the low 60-ties.

     The common element in all three is a lower US dollar. The result of Trumpenomics?