Since Gold is the anti-dollar, if the US dollar has improved 17% in the last 4 years, Gold should have declined by the same.
But Gold and even more so Silver are up much more than it.
Silver has had a couple of higher lows , while the dxy has had slightly higher highs. Setting up a bullish divergence. The last time I could see this was late February, where Silver rallied higher straight after.
This little triangle section, is a meeting of the down trendline (red) and a multi year support trendline (blue). The blue line looks horizantal, but it's not, it goes so far back and it is angled.
Link is right near the fibonacci 50% retrament from previous High to Low.
On smaller time frame these horziantal and vertical trend lines show it coils in the upper corner before bouncing up to next level.
Looking at the term angles this chart likes to use, it has broken the recent down trend and stabilizing at these new higher support/resistance lines.
Projecting from the previous big leg up, shows a move up to 18c is possible.
With the trend lines, the price can respect or reject them but making it easy to see where it's moving too.
When it hugs the upper band...
