Courtesy of Chris Kimble.
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King Dollar has spent the majority of the past 7-years inside of rising channel (1), as it’s created a series of higher lows and higher highs.
The 2018 rally has it kissing the underside of potential resistance this week at (2), where it could be creating a bearish reversal pattern. This one week action has NOT changed the upward trend in King Dollar.
If it breaks rising support at (3), odds favor that some selling pressure takes place in the US$, which metals would love to see!
Below looks monthly patterns in Gold & Silver-
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As King$ could be creating a topping pattern, Gold and Silver are both testing key support levels at (1) and (2).
Metals bulls would love to see King$ topping and Gold & Silver bottoming at the same time!!!
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