by Peter Degraaf, SilverBearCafe.com:
The two most important charts you’re likely to see all day.
Featured on the left below is the weekly gold chart, with the US dollar at the top. The rising dotted lines in the gold chart coincide with falling dotted lines in the US dollar index chart. The long uptrend line supporting the dollar coincides with the latest correction in the gold price.
The arrow in the dollar chart points to a possible breakdown below the rising trend-line in the dollar (once price drops below the arrow). In the event that this occurs, it is very likely to coincide with the gold price rising above the arrow in the gold chart.
The supporting indicators at the bottom of the chart are turning positive.
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