Following the recent breakout/buy signal above my T1, UUP (US Dollar ETN) corrected back to this uptrend line, providing a relief rally in gold & silver. If the trendline is taken out, T1 (28) is the next support & I still favor T2 being hit unless UUP falls below the 27.62ish support on the daily chart below.
UUP daily Nov 10th
Likewise, the pullback in UUP provided fuel for the inversely correlated /GC (gold futures) to break out above the 4052 resistance/trading range, with the next resistance around 4172 on the 60-minute chart below.
GC 60m Nov 10th
/SI (silver futures) broke above my first price target from the recent reversal (covered the short & went long for that bounce) as the rally in UUP has stalled out & just hit the former T2 (resistance). No opinion on the near-term direction now, although still leaning towards another leg down, especially if UUP rallies up to T2 after this near-term overbought correction runs its course. 60-minute chart below.
SI 60m Nov 10th