Loading ...Dollar Down Again Today
Evidence is mounting. The breakdown from the bearish rising wedge is becoming more evident. Unless it rips higher tomorrow, the signal is clear, and I would expect the next major cyclical leg down to be underway.
And if you want to learn more about bearish rising wedges https://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:rising_wedge_reversal
What makes this even more significant is that it coincided with the bullish breakout of golds descending wedge. It also confirms the ’rounded top’ I posted for the Dollar, and the ’rounded base’ I’ve been posting for many months now. Additional evidence comes from the approaching major cyclical low for the Dollar and the fact that Golds major cyclical low is behind us (2016).
A move back up into that wedge for the Dollar or below $1220 for gold will change my outlook.
Stop guessing Northstar and please get rid of that cycle tool as it does nothing for your credibility as a serious poster!
For what its worth gold is going to seek out a DCL by mid next week so that more than likely means a US$30-50 drop and closing a few gaps in the miners.
It also means that the USD will most likely move higher for a few days.
Go long again (gold) mid next week until the end of the month when stock will host an ICL.
That’s NOT a guess!
Norvast this was completely uncalled for.
Northstar does his own independent unbiased work and is a spectacular visual chartist. For me he has no peers in that regard.
To say he is guessing and to discredit his cycle analysis is completely classless.
I am shocked at this out of the blue unwarranted attack .
What is the matter with you ?
sheesh
Ouch. I’ve taken a few negative comments here, and I do have a thick skin, but I’m not hanging around for that kind of response. For those who are interested, you can find me on Twitter. Adios Amigos.
Don’t kid yourself, you have very thin skin.
NS, I just had a client complain about a job I did recently and was very unhappy with it.
I’ve been in business for almost 50 years doing custom woodworking, have many pieces in a museum that bought from me and have sold to the co-founder of Pixar. In all the 50 years I’ve had maybe 3-4 complaints.
One couple that asked for stain samples that they picked out twice, were never happy, eventually told me I didn’t know what I was doing.
Hang in buddy, you mean way too much to too many of us. Blow off the rude comments like a 32 degree day with 40 mph wind and pouring rain!
Thanks for all your work here!