$USD – Daily line chart
Spock has been insisting that the Dollar is topping. To my mind, a break out is a break out until proven otherwise.
But wait. Look at the negative RSI divergence and the reaction when the dollar double topped in March/April 2015.
Compare that to the negative divergence and the potential double top in the dollar today.
Is it time to get long the PM miners? But darn it the falling dollar didn’t seem to help gold all that much back in early 2015.
Other factors that influence the gold price: real interest rates, Dollar/YEN, Dollar/Swiss Franc, cycle timing, inflation expectations, confidence in the fiat system, momentum, “mass psychology,” war, etc.
Is the rise and fall of the dollar important to the price of gold? I really don’t know.
Is it NOW time to get long the miners? Charts show positive divergences, but the miners seem to be building yet another bear flag.
Conundrums abound.
Well Put Silver Fox