That Rally in Gold Looks Familiar and It Has Major Implications

From goldpriceforecast.com

So, the USD Index broke above its declining resistance line, and it verified the breakout. What’s next? Next, the USD Index is likely to soar. For now, it has moved higher, but not very significantly so. chart On the above chart, you can see that the tiny move to new yearly lows was quickly invalidated and that USDX has moved higher since that time. charts Zooming out, however, allows us to see that this move is pretty much nothing compared to the recent decline. The RSI is still below 30, indicating an extremely oversold condition. This is as bullish as it gets, especially given the USD Index’s tendency to ... (full story)