CRUDE OIL extends its 5-day loss, the longest losing streak since mid January (when oil oscillators descended in a downward spiral and oil lost $17). $83.00 stands as the next support. We reiterate that oil will continue its underperformance relative to gold based on a rising GOLD/OIL RATIO, which is expected to reach 14.50-80 before quarter end from its current 13.65. EURUSD successfully broke above its 21-week trend line after regaining the $1.35 figure to a 3-week high of $1.3570. NEXT RESISTANCE POINT stands at $1.3780, which, a break of which would qualify for a return towards the $1.40 figure. failure to retest $1.3770s, may lead to gradual retereat back towards $1.330s.
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