My single biggest worry is the US dollar. It's now clear that Russia and China are out to diminish the future of the dollar, which is the world's reserve currency. To do this, they would have international trading done in non-dollar currencies. The preferred currencies would be the Chinese yuan and the Russian ruble.
The chart below shows the US dollar breaking down and giving a "sell signal." This projects a decline to 73 on the chart.
The P&F chart of gold, below, has turned bullish. An even stronger bullish signal will arrive if gold can hit the 1340 box. As it is, the P&F chart has produced a projected target to 1470.
GDXJ became overbought and was due for a mild decline and a rest. That's exactly what happened, as seen via the three boxes at the far right side of the chart. The formation still projects to a target of 64. The ... Log in or subscribe to continue reading.
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