What if it’s all a lie?
It seems that its been going on forever we’ve heard phrases like: ‘dollar destruction’, ‘gold’s going to $10,000,/oz’., ‘rampant inflation’, ‘hyperinflation’ and on.
What if (speculated in yesterday’s post), it’s all a lie?
It takes a very flexible mind (technically termed, “neural plasticity”) to be able to wrap itself around and understand the diabolical agenda being played out before us.
The good news is, Wyckoff analysis cuts through all the lies.
Now past a century old, this technique has stood the test of time.
Which brings us to the dollar.
Dollar Destruction: Just Another Lie
Reminder: Way back in late December of 2020, was the first bullish update on the dollar.
The next chart shows UUP, may be in a trend and just about to contact overhead resistance.
We’ll investigate further how UUP behaves if and when it gets into the resistance area.
One thing about the dollar that’s obvious from the chart, it’s not going down.
At this juncture, there’s no dollar destruction.
The dollar and gold are still inversely correlated.
That means continued downward pressure on the metals and upward pressure on the dollar.
Charts by StockCharts
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.