DXY is rallying very well on its support and will move higher.
This will drive SPY and commodities into the red.
Targeting plat and Silver. Shorting 1205. Max loss is going to be $1245.
I will double down at 1200 and triple at 1190.
DXY is trending upwards.
Target is $1100.
Price is consolidating inside a pennant which is bullish continuation pattern. If bulls accumulate enough moment we might see price breaking above the bullish pennant with a potential run up to $1,350
Platinum has experienced a strong breakout in the first half of February after which it touched a high of $1,337 on 16th February, since then it has experienced a correction and is currently trading near $1,245. Further it is near the 38.2% retracement support of the rally experienced from 28th January to 16th February, suggesting a rebound is likely from current...
Look at the recent 3 $100 +/- drops for the metal. What the market tells us is that each time after these kinds of painful swing the market will follow up with sharp positive correction to the upside.
For now the trend is still up with the 200 EMA below the priceline, I would rather be a believer that history should repeat itself.
Disclaimer, this is only...
