Look at this dollar chart

[jim4silver]

It seems the dollar isn't doing so well today due to the Fed stuff. It caused me to look at a one year dollar chart and I was a bit surprised how weak the dollar chart looks. Check out the below link. Could be that we recently completed a double top? In any event, I can find no chart pattern that would say the dollars recent action is bullish in any way. Of course that doesn't mean anything but is just one source of data to look at.

This makes me a tiny bit more sure that PM's are going to rise a bit soon. Maybe by summer. Don't know how high it will go but I can "feel" it. This time is different, I am sure! LOL!

DXY Index Charts - U.S. Dollar Index (DXY) Interactive Index Charts - MarketWatch


Jim

 

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[jim4silver]

That chart I linked above updates each day. It looks much worse than when I posted it originally. If the dollar gets to 92 or so look out below. That doesn't mean gold and silver take off, but it should in theory. Silver will probably only go up a few cents though due to some mysterious forces in the universe.


Jim

 

[Marchas45]

Right now the Yen is heading up and taking gold with it because the dollar is falling. Look how connected gold and the yen are. This pic taken from tfmetals.

 

[jim4silver]

The dollar is getting slammed today, but the PM's just sit there.

DXY Index Charts - U.S. Dollar Index (DXY) Interactive Index Charts - MarketWatch


Jim