{"id":933,"date":"2011-01-14T12:41:38","date_gmt":"2011-01-14T16:41:38","guid":{"rendered":"http:\/\/www.silver-investor.com\/blog\/?p=505"},"modified":"2018-06-10T10:58:19","modified_gmt":"2018-06-10T10:58:19","slug":"precious-metals-and-the-dollars-next-big-move","status":"publish","type":"post","link":"https:\/\/www.themorganreport.com\/blog\/precious-metals-and-the-dollars-next-big-move\/","title":{"rendered":"Precious Metals and the Dollar\u2019s Next Big Move"},"content":{"rendered":"

There is a potentially big setup in precious metals sector along with the dollar which looks like its about to unfold. Since mid-October of last year gold started to show signs of distribution selling. Only a month later in November silver started warning us that some big players were taking some profits off the table also. Distribution selling is easy to spot on the charts. In short you will see heavy volume selling accompanied with strong moves to the downside.
\nNow if we look at the US Dollar chart we see the exact opposite price action. We see sharp rallies during October and November of last year. It\u2019s normal to say that gold and silver move inverse to the Dollar so this price action makes perfect sense.
\nThe interesting thing with the US Dollar is that in Nov-December it rallied breaking through a key resistance level and has been consolidating above support ever since. If this bullish pattern (bull flag) plays out, then it\u2019s just a matter of time before the dollar makes another strong rally upwards, which will put downward pressure on stocks and commodities.
\nTake a look at the charts below\u2026
\nUS Dollar Daily Chart
\n<\/strong>The 50 period moving average has provided key support\/resistance levels for the previous trends and if it holds true going forward then we are not far from another rally in the dollar.
\n\"\"<\/a>\u00a0
\nGold Futures Daily Chart
\n<\/strong>Gold moves inverse to the dollar so if we get a higher dollar then look for gold to have a stair step pattern lower.
\n\"\"<\/a>\u00a0
\nSilver Futures Daily Chart
\n<\/strong>Silver looks about ready to do the same thing as gold.
\n\"\"<\/a>\u00a0
\nPrecious Metals and Dollar Trading Conclusion:<\/strong>
\nIn short, we could see a major shift in momentum from up to down in both precious metals and the equities market. Keep in mind the market has a way of dragging out patterns\/moves so whilethe chart looks bearish and I think a reversal is near, things could just chop around for another month or so before a definitive breakout is made. This is why you don\u2019t want to anticipate moves (pick a top).\u00a0 Currently I am neutral on metals and the dollar waiting for a setup which must have clear risk\/reward characteristics.
\nIf you would like to receive these reports please join my free newsletter: <\/strong>http:\/\/www.thegoldandoilguy.com\/trade-money-emotions.php<\/strong><\/a> <\/strong>
\nChris Vermeulen<\/p>\n","protected":false},"excerpt":{"rendered":"

There is a potentially big setup in precious metals sector along with the dollar which looks like its about to unfold. Since mid-October of last year gold started to show signs of distribution selling. Only a month later in November silver started warning us that some big players were taking some profits off the tableMore<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[121,89],"tags":[],"yoast_head":"\nPrecious Metals and the Dollar\u2019s Next Big Move<\/title>\n<meta name=\"description\" content=\"Precious Metals and the Dollar\u2019s Next Big Move\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.themorganreport.com\/blog\/precious-metals-and-the-dollars-next-big-move\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Precious Metals and the Dollar\u2019s Next Big Move\" \/>\n<meta property=\"og:description\" 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