The king currency and the precious metals move amazingly in line with the previous forecasts. As time goes by, we can see the path clearer these days, and therefore I kept only the one option for each instrument to emerge.
Let us start this post with the updated daily chart of the U.S. dollar index (DXY), aka "King," as it keeps a strong influence on the precious metals.
The selling pressure remains relatively strong in the dollar index. The expected pullback transformed into a minor sideways consolidation. It was not deep, as it could not retest the resistance. The price already broke below the consolidation valley in 93.3, and the RSI indicator confirmed that move down sinking below the crucial 50 level. This was one reason to think that we should now expect only the bullish option in the precious metals. Continue reading "Precious Metals: Bullish Only"