Submitted by Morris Hubbartt:
If the implosion of Lehman could only get the dollar to 89.11, is there really any hope for the bulls now? I don’t think there is. I’ve labeled the dollar chart the “Triple Hammer Chart”, because I see 3 powerful chart patterns, and all of them are very bearish for the dollar.
Silver is setting itself up for a nice rally. The set-up is very similar to last fall. At the bottom of the chart, note the bullish breakout of the Aroon indicator. Silver is my favorite asset in the precious metals group, for adding fresh risk capital. The Bollinger bands are tightening, and that is usually followed by an explosive move. [Read more...]