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Chart 1: US Dollar Index
Here is a weekly candle chart of the US Dollar which may have made a short-term peak at 95.
There is a confluence of resistance at 95-96. The dollar rally will pause and correct here but what happens in the next few months could be quite instructive. It will tell us if the dollar is in a bear or bull market.
TheDailyGold Premium #572
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Saturday afternoon we published TDG #572, a 21-page update focusing on the sector as well as on our portfolio holdings, which we have reduced in recent weeks.
Gold needs a weekly close above $1320 to change its course. If it can't do that then it has downside risk to $1260 this month. Miner ETFs GDXJ and SIL are trading in triangles which could break either way over the next few weeks. Keep a close eye on those.
Because there is little chance of a gold breakout and therefore no tailwind, we have to be cautious about the companies we own. Can they move without metals prices? The answer depends on if they can make a discovery or add value to an existing discovery. If the answer is no, then we don't want to own that company.
We added to one of our favorite positions we had previously trimmed. It corrected 30% after a big run. But this company has already made a discovery and has a chance to expand on that when drills hit the ground this summer.
This is a time to be nimble. Let winners run but trim them when they become too hot. Cut losses quickly and dump laggards.
There will be plenty of opportunity to make big money when the Fed is done hiking rates. But until then we need to be cautious and nimble.
Consider a subscription as we can help you follow the stocks that have a chance to make huge runs into 2019 and beyond.
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You nearly always read the trends and support and resistance extremely well. Please keep us posted if or when the outlook seems to change. which you always do of course. TDG is the most valuable resource for understanding what is possible to understand about the PMs.
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Thanks for reading. I wish you all great health and prosperity in 2018!
-Jordan
Disclaimer: This newsletter is intended for informational and educational purposes only and should not be considered personalized and individualized investment advice. Investment in the precious metals sector contains significant risks. You should consult with an investment advisor and do your own due diligence before making any investment decisions. This email may contain certain forward looking statements which are subject to risks, uncertainties and a multitude of factors that
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