A Chart for Today
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
The featured chart today is courtesy Stockcharts.com. It shows the US dollar index.
The chart pattern is that of a ‘head and shoulders’ formation. The middle green box is the ‘head’ and the other boxes represent the ‘shoulders’. This type of formation often breaks down at its ‘neckline’. When this breakdown occurs, the target will be at 88.00. Gold and silver will ‘rise and shine’ during the breakdown of this pattern. The supporting indicators (top and bottom), are negative. So we wait for events to unfold.
Peter Degraaf is an investor with over 50 years of experience. Google him or visit www.pdegraaf.com
DISCLAIMER: Please do your own due diligence. Peter Degraaf is NOT responsible for your trading decisions.