In a twisting reversal of fate, the US Dollar Index is coming off new lows after building a potential base while gold prices are coming off new highs after a climax top and potential top formation. The intermarket relationships are in full force. Let’s look! Notice the ‘mirror image’ occurring in this post. That’s because…
Let’s look at the price positions of the US Dollar Index and the Dow Jones Index to gather clues about possible moves next week: First, the Dollar: The Dollar Index rallied (strengthened) last week, after forming a tight coil and has broken above its key 20 period moving average. Price is finding preliminary resistance at…
This week, the US Dollar Index has recovered slightly, and price finds itself above key resistance and attempting a new swing high. What might this mean for commodities? First, the US Dollar Index is breaking above a consolidation pattern, which was preceded by a positive momentum divergence. Should price break the $73 level, the next…