So this is the thread of the dollar bulls then
If the USD is going to the moon as mentioned, then gold is supposed to drop like a rock...I don't think this would happen anytime soon...What about oil?? Not a chance right now for trend reversals....
In my opinion, & that's my own opinion, gold have seen real profit taking yesterday & today since it started it's move up from $550 to $677...This profit taking brought the gold back to $630 & I am convinced that profit taking is not over yet...This sharp down move in gold moved the USD up sharply in the past 2 or 3 days...So, if we agree that the move down in gold was a pullback, then we agree that the move up by the USD is a pullback as well before it continues lower...
Any opinions out there ???
Thanks,
Nader
If the USD is going to the moon as mentioned, then gold is supposed to drop like a rock...I don't think this would happen anytime soon...What about oil?? Not a chance right now for trend reversals....
In my opinion, & that's my own opinion, gold have seen real profit taking yesterday & today since it started it's move up from $550 to $677...This profit taking brought the gold back to $630 & I am convinced that profit taking is not over yet...This sharp down move in gold moved the USD up sharply in the past 2 or 3 days...So, if we agree that the move down in gold was a pullback, then we agree that the move up by the USD is a pullback as well before it continues lower...
Any opinions out there ???
Thanks,
Nader