Guld & USD TA

Från Morris Hubbartts senaste inlägg på 321gold: Weekly Market Update Excerpt

  • Part one of the bear market rally in the USD is completed. I expect the dollar to have difficulty moving much higher than 80.50. Last Friday marked the end of the month, and the quarter, but the dollar could not close above this key price point.
  • My timeframe (time bomb) analysis suggests that sometime around Oct 16th, you will see the highlighted bear flag top activate, and the dollar will begin a severe decline. My downside target is 74.72. A very strong move higher in precious metals should commence at the same time.

  • The breakout move from the large consolidation is now well underway. The red & black lines of the MACD indicator are widening, suggesting that the current sideways action is simply a pause in the bull move, rather than the start of a correction.
  • Gold has stopped at a financial gas station for fuel. It’s not turning around or putting the transmission into reverse gear.   
  • I’m projecting this move higher will be a multi-year rally. Investors should reduce capital used for trading, and hold very large core positions.

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