Welcome To The Golden Minerals HUB On AGORACOM

Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

Free
Message: The Immaculate Correction

The Immaculate Correction

posted on Nov 19, 2008 09:50AM

BigP, The USD has been trying to break through the 88 point level for about a month now and has been forming an ascending triangle in the process. The formation has completed and must break in either direction within days.

This morning the USDX fell off a cliff and dropped by approximately 1 full point in less than an hour which translated into a strong move for gold. Then inexplicably, it quickly reversed as shown in the chart below.

This may be an indicator that the end for the USD rally is now at hand. Something has to give and soon.



Nov 19, 2008 10:51AM
Share
New Message
Please login to post a reply