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Tuesday, November 26, 2024

King Dollar could be topping out, says Joe Friday

Courtesy of Chris Kimble.

Could the US Dollar be peaking at year end? It’s way too early to tell!

Could be an interesting price point to finish out the year for sure!!! Below looks at the US$ over the past 30-years, on a Monthly Hi/Lo/Close basis.

CLICK ON CHART TO ENLARGE

The US$ is kissing the underside of two resistance channels at (1) this month.

Just the Facts….The US$ could be creating a reversal pattern (bearish wick) this month, at potential dual resistance.

Full Disclosure; Premium and Metals Members bought mining stocks a few days ago, due to big decline in them (lost nearly of third of value recently) as this dual resistance test is in play.

To become a member of Kimble Charting Solutions, click here.

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