Take physic, pomp

Chart of the day is….

…the US Dollar index..

….because it’s the centre of everything today. The hikes in gold, copper, lead, zinc, silver, nickel…hell, even alu is up over a point this morning, it’s all directly related to the dollardrop.

The above is the 15 minute candle showsing what’s happening right here right now, but if we pan out and look at the hourly candle….

….it seems clear that 76 is the line in the sand. The USD bounced slightly North of 76 this morning with a re-test likely.

Looking further afield, thoughts on that 76 number are confirmed….

…and any breakdown would see the next resistance level at 72.

All the above should be considered by technical analysts. Personally i think it’s all total bunk and a pseudoscience created by people who think they can get rich quick by following squiggly lines or become experts in a field without ever having to do serious study or hard work, but WTFDIK?

UPDATE: LOL! I knew I’d get him :-). Click through to find one of the exceptions to the rule.

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