Great bullish engulfing candle, a very convincing one on DGP ! ! !
Now I have one question, to paraphrase Clint Eastwood, " Do you feel lucky today ? "
Now my question is the same one it was a month ago:
" How lucky do you feel with the USD Dollar @ an index of .81 ?"
I can give you a scientific wild guestimate where gold is on the Disperstion diagram with $USD @ .81 - > at that point it stands at $650 US Dollars per ounce.
The next question is how lucky you feel if the $USD index hits .84 ?
Well if I were in GOLD SHOES, I'd think I'd be looking @ maybe $525 per troy ounce of gold.
Now, if the Dollar were to hit .87, the supposed price of gold would be in the $375-400 range......... Think about that. ! ! !
My bet is that the Dollar stops this rally at .85 or less. Not that the damage would not be done, for sure it would. But then again, it'd be a double off that with ease, as the Mini-Weimar kicks in. Tis food for thought ! ! !
I dont remember whose thread I got the Dispersion Chart from but it should be standard equipment in any speculator's kit. At least that way with some basic forecasting tools and the chart you can get a bead on several Time & Price Scenarios. Without it your flying blind, worse than dead reckoning, as your working in ZERO Visibility.
At least with a set of Ranger Beads and a basic compass, you might not be pinpoint, but you'll get where your going