Charts provided without commentary..
I think there's more squeeze coming in metals. Dollar should rally to about $81 or so and top out against the 200 MA. Look at past rallies and see how the corrections used the 200 as support.. until it crossed. Then it goes back up and tests it as resistance. We've just broken below the 200 MA (along with the 50 MA, a huge bearish signal) so now it only makes sense to top out around that level. Consequently, the 200 MA will be between $80.50-81.00 depending on how long it takes to get there.
This pushes metals into extreme oversold conditions. Silver as low as $30.50 and Gold as low as $1695.
I don't think the dollar will be able to close above the 200 MA, and if it does, something in the fundamentals will have changed in the short term. Heavy selling should come in at that point.
Dollar Short Term
Dollar Long Term
Here are the metals:
Gold
Silver:
Gold Miners:
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