Monday, December 13, 2010

Time to Load Up

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The single event that gets the precious metals screaming strongly higher is the simultaneous descent of the US Dollar.  Take a peek at this 4 hour chart and see where you think the US Dollar is heading next.
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I made this chart using the freely available software from ThinkorSwim.com because it gives us the continuous contract for the US Dollar and the other futures in real-time.....and because they include the True Strength Index (TSI) in their offering of technical indicators.
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Now take a peek at where GOLD appears to be heading in this 4 hour chart.  I saved myself the extra work of making charts of Silver, Platinum and Palladium, but trust me, they look even more convincing than gold.  
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I need to go make my shopping list now and put in my limit orders.  I hope you have a successful day in the markets TODAY!
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Click on the charts to ENLARGE



2 comments:

  1. Silver is looking very strong (+3%) in the futures market this morning!

    ReplyDelete
  2. Nice call today!!

    ReplyDelete