USDU looks like toast, into late April, based on the 10 week Hurst Cycle. From the chart, this cycle is now heading down into late April, and the price action is now bearish, given its trading under a H&S neckline.
What can happen, is price can drop hard into the cycle low, so maybe we flop around here for a week or two, to establish a failed daily cycle, then down hard into the late April lows, for 4% to 5% drop, from the neckline. 4% to 5% hard drop … think about it.
This will produce a lot of chart damage. I cannot see where the bull case is, given that we are also at 15 year super-cycle peak this year, for the DXY.
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So far, many of the miners are not buying any of the metals price action. Lets see what happens when USDU goes over the edge next month. $Gold should be testing $1300 then. This reminds me of January 2016, when we had similar scenario, when the metals took off, and miners had a delayed reaction, as the herd were in recency bias denial.
Now here is the $silver price action. Using some independent rational thinking, which is rare to find in a herd, assuming USDU does the expected dive next month, $silver should be trading well above the neckline shown at $18.40, and on its way to $21.70, which is the measured move.