A Chart for Today!
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
All eyes are on the US dollar. Featured is the daily chart.
The US dollar index found support at 88.00 after breaking down at the 91.00 level. Technically the rebound should have sufficient energy to take the dollar back up to the green arrow, to test the breakout on behalf of ‘dollar bulls’ The RSI at the top and the CCI at the bottom, are ready to turn positive from levels of support. However, in the event that price breaks down at the brown arrow, it will cause a rapid slide in the dollar index. Precious metals would love that, but as long as the dollar claws back up, the metals will likely remain under pressure.
Peter Degraaf is an investor with over 50 years of experience. Google him, or visit www.pdegraaf.com
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