Commodities Update - Gold, Copper, Crude Oil and the Dollar Index
Attached is the updated major commodities charts, Gold (GC), Copper (HG), West Texas Intermediate Crude (CL) and the Dollar Index (DX).
Note: the dollar momentum has broken down and it's now trading below the 10 week MA significantly. Hence it could pullback further even if it remains in Stage 2 which could benefit commodities that largely have a negative correlation to the dollar, especially oil which has had a very close negative correlation through it's entire Stage 4 decline.
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Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.