CHART OF THE DAY – Dollar, Gold and Silver

Chart of the Day – Dollar, Gold and Silver
Dollar, Gold and Silver

$USD – If the dollar gives us a normal duration intermediate cycle, it will not be due to bottom until September or October.

$GOLD – Assuming gold continues to decouple as the dollar completes its final intermediate rally, we could see gold trend generally higher until fall. I would think a reasonable target by then to be be between 1450 and 1550.

$SILVER – The pullback in gold was a bit shallow at only 38%. But silver retraced 50% and that is a completely normal intermediate cycle decline.

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8 thoughts on “CHART OF THE DAY – Dollar, Gold and Silver

  1. rainman

    The May low would be YCL for Gold then. The next ICL or the one after would have to be left translated to form a YCL?

  2. eddy1974

    If GDM go over 760 it’s possible that it continue following fibonacci untill 1500?

  3. vanbc

    HUI is already 140% up from its lowest 99, review historical price action in bull market, when HUI was going up to 130-150%, MUST have a 5-6(even 1 year) months consolidation. I am little bit worry about GOLD and MINER is just in this period. Will see.

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