Following up on yesterdays posting:

http://www.fxstreet.com/technical/analysis-reports/fx-technical-commentary/2012/02/07/

I wanted to provide an updated chart on crude oil:

oil

Higher oil prices are supportive of a 'risk related' rally across all asset classes.  Look for sustained gains in the S&P 500 and the likes of AUD/USD, while weakness in USD/NOK and the U.S. dollar in general will also prevail.