Courtesy of Chris Kimble.
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This chart looks at the King Dollar over the past 10-years. It remains in a long-term uptrend, creating a series of higher lows and higher highs inside of rising channel (1). King$ has spent the majority of the past 3-year trading sideways between 90 and 105.
In August King$ created a weekly bearish reversal pattern and sold off a small percentage (3%). The rally over the past 5-weeks has it back at August highs, where it could be creating another bearish reversal pattern this week at the August highs.
Sentiment for the US$ currently stands at 77% bulls, as a good deal of investors are confident it will rally.
Metals bulls would love King$ to be creating a double top this week! Potential important price point in play for the Dollar and metals!!!
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