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TFC Commodity Trading Forum

Re: dx and silver / Artie *PIC*

DX broke out above its downtrendline in mid Oct and has been in a steady uptrend since and holding above its 20ema. Price cleared 1st resistance of 80.43 area as well. Price has now reached a sticky resistance area of 81 to 82. See the resistance area it has to work through. This resistance area could take some time to clear and could spend some time in the 81 to 82 area unless the Euro tanks which in this economic chaotic world is more than possible. There lies the problem with everything as DX determines a lot of price action and trades inverse to the Euro. So anything over there good or bad will whipsaw everything due to this. Regardless even with no Euro news choppy price action with DX in this price area could see the same choppy price action with most markets. All one can do is watch price action on the markets they trade with an exit strategy firmly in mind.