Oil price is dropping further today.Could be we can see a stop at 110 where the 200 ma line is around or we also could find support at the support line a little lower.If these line holds the up trend is still intact but if not the trend will reverse .

Looking at the rsi which is nearing oversold condition could be we see a try for a bottom making in coming weeks.

Someone posted something about the us $ trend which after a short strenght could be dropping again but I read another statement from a local bank hee about the us $ where they see it strenghten further in time to around 1.10 for a € because also Europe faces big problems and like Brian also mentioned it was not only in the US where banks has taken risk.