As you know, I’ve been extremely interested in gold lately.
Since the beginning of this year, it’s really only seemed to go up and up.
That’s a trend, folks. And we technical analysts like nothing more than a good trend. In fact, that’s what we’re about: Looking at histories to find the directions of a primary trend.
What’s been surprising to me, however, is the fact that gold has continued to work – even alongside a strong U.S. dollar. That’s something I did not see coming.
Making matters more fascinating is that the breakout we’re seeing on the dollar right now is the third or fourth that we’ve seen in the last few months.
As always, we’re more concerned with the reaction than the action, which in this case is the most recent breakout. Usually we see kneejerk reactions to these types of movements, then they fade at key pivot points.
My question is whether gold and the dollar will move together. My guess is that they won’t, and that they’ll go back to doing what they traditionally do with one another.
But either way, it’ll be exciting to watch. I’ll tell you what to look for and where you want to be putting your money in this latest video.