With the war in the silver and U.S. dollar markets heating up, today King World News is pleased to share a piece that takes a remarkable look at the battle in silver and the U.S. dollar. This piece also includes four key illustrations that all KWN readers around the world must see.
October 20 (King World News) – The War In The Silver And U.S. Dollar Markets
First, Top Citi analyst Tom Fitzpatrick’s note regarding the U.S. Dollar: “The US Dollar Index has formed a double top just like we saw in July-August (see chart below).
When the dollar initially breached the neckline in August, we saw a bounce for a 4 day before lower again on August 19. So far, this time it has been the same – we closed below the neckline (94.06) 4 sessions ago and have since bounced. A similar follow through would see one more day of US Dollar gains (today) before we head lower…
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Note – On August 19, when the euro rallied and the US Dollar Index fell after the consolidations highlighted above, equities took a turn for the worse.”
King World News note: Now, three charts from SentimenTrader on silver and the U.S. dollar. The illustration below shows the commercial hedgers position in the silver market. You can see that the commercial hedgers have been aggressively adding to their short positions on the recent rally in silver (see chart below).
King World News note: Below you can see the longer-term 10 year chart of the commercial hedgers positions in the U.S. Dollar market. Although commercial hedgers in the dollar have been covering their shorts on the heels of the recent weakness in the U.S. dollar, they are still very short on a longer-term basis (see 10 year chart below).
King World News note: Below you can see the longer-term 10 year chart of sentiment in the silver market. Although sentiment has improved, it is not yet to the level of “excessive optimism,” especially when viewed on a longer-term basis (see 10 year chart below).
King World News note: Regardless of where silver trades in coming weeks, it is quite apparent that the gold price can head significantly higher based on the historical data of commercial hedgers’ positions. This would also support the belief that the gold market is continuing to carve out a bottom as the general public remains out of the market. These charts are just a portion of one of the latest fantastic reports. To try a free 14-day trial of the internationally acclaimed work that Jason Goepfert produces at SentimenTrader simply CLICK HERE.
***KWN has now released the powerful audio interview with Bill Fleckenstein, where he says that gold and silver have entered new bull markets, and discusses the major markets and mining shares, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: A Remarkable View Of The War In The Gold Market CLICK HERE.
***KWN has also now released the incredible audio interview with Egon von Greyerz, where he discusses the worldwide collapse, what investors can do to prepare and protect themselves, why gold and silver are headed to new all-time highs and much more, you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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