Tuesday, February 03, 2009

US Dollar Second weaker Top in a Double Top reversal. DXY, TLT, GDX, AUY, SLW, SST.v, TNR.v, CZX.v, RMK.v, MGN.

First top is 88.46 Second weaker Top in a double top reversal has been formed at 86.81. Second top is itself formed by a double top at 86.81 and 86.5. MACD is crossing into Sell, STO is moving down, RSI at weaker level then First Top and pointing down. MA50 is sloping downwards. On a Weekly chart Double Top is very apparent reversal with P&F target of 67. Irrational Delusion is over with treasuries TLT under heavy selling today. Markets are positioned to rally. Expect more and more talks about Inflation with rising Gold price. Gold Miners are ready to storm MA200. M&A announcement from Juniors are coming every day now, Majors are raising capital for acquisitions.

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