from King World News
Today Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, sent King World News the following information about a very big development in the gold market.
June 23 (King World News) – Michael Oliver at MSA Research: Over the past six years the broad swings up or down in the Dollar have not been a viable inverse trend indicator for gold. While gold doubled from its 2015 bear low, the Dollar entered a very narrow 12 to 13% range of price action since 2015, perhaps its narrowest multi-year range of action in history. And now it’s tightly clustered near the bottom end of the action since 2015, groping to hold that floor (the black horizontal is a pivotal price line tracing back to prior peaks in 2009 and 2010). So that black line is now important as a last negative point of breakage for the Dollar, given that its annual momentum trend turned negative in early 2017 when price dropped through 99.