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A Chart for Today

Commentaries & Views

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.  

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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