Courtesy of Chris Kimble.
This chart looks at the US Dollar, reflecting that it has spent the majority of the past 14-years inside of rising channel (1).
Over the past 3-years, King Dollar could be creating a series of lower highs and lower lows inside of falling channel (2). It hit the top of the channel a few weeks back, near the top of the new falling channel and some selling pressure has taken place.
The weakness in King$ has it attempting to break support of a bearish rising wedge at (3).
King$ continued weakness would send a positive message to Commodities, especially Gold, Silver and the miners! What it does at (3), will send an important message to the hard-hit commodities space. Full disclosure-Metals members have been long Gold for a couple of months.
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