22 September 2010

Gold and Silver Charts; US Dollar


Gold Daily

Gold has firmly and clearly broken out of the cup and handle formation which is now active. There is a possibility that it will retrace to the point of breakout which should now be considered support. Targets for the formation are as indicated.



Silver Daily

Silver has reached the minimum measuring objective of its breakout from the symmetrical triangle which is a continuation pattern in the powerful bull market. A consolidation would be typical, considering the short term overbought condition. However, silver is not a 'typical commodity' but a key metal that has been subject to years of suppression by a few powerful trading banks. So be on your guard and expect the unexpected.




Silver Weekly




US Dollar Daily

I have support at 79.50, and this is where the dollar tested today in its downside slide. The DX Index is deeply flawed, being weighted heavily to the yen and euro, with no weight to the developing country currencies or gold and silver. But it is the most widely watched index until something better comes along.




US Dollar Weekly




US Dollar Ready to Plummet - James Turk