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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

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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