Comments on: US Dollar, GLD, USO Outlook https://rightsideofthechart.com/us-dollar-gld-uso-outlook/ Stock Trading, Investing & Market Analysis Tue, 23 Feb 2016 15:06:45 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Mrg5a https://rightsideofthechart.com/us-dollar-gld-uso-outlook/#comment-915 Tue, 23 Feb 2016 15:06:45 +0000 http://rightsideofthechart.com/?p=169918#comment-915 In reply to rsotc.

Thanks Randy! Cheers

]]> By: rsotc https://rightsideofthechart.com/us-dollar-gld-uso-outlook/#comment-914 Tue, 23 Feb 2016 15:04:32 +0000 http://rightsideofthechart.com/?p=169918#comment-914 @mrg5a I do see that high, tight flag/pennant & am aware that it could play out as anything is possible but I’d rather let the miners take the next run without me instead of buying on a breakout above the recent consolidation. I was reviewing the weekly (10-year) charts of the top components of GDX today and I have several, such as ABX, NEM & GG (the top 3) at or very close to MAJOR resistance, many with long-term trend indicators that are still in bear market mode although I will say that most are right on the line between bullish & bearish. Therefore, the potential is there for a breakout & sustained rally above this consolidation area but the chances for a very sharp & fast reversal, should that prove to be a bull-trap/whipsaw signal, is just too high & the miners are just too extended for my comfort level. Plenty of other fish to fry right now. I just prefer to let the miners (or any stock/sector) come to me vs. chasing it.

]]> By: Mrg5a https://rightsideofthechart.com/us-dollar-gld-uso-outlook/#comment-913 Tue, 23 Feb 2016 14:29:29 +0000 http://rightsideofthechart.com/?p=169918#comment-913 @rsotc
Would you consider reversing positions and going long GDX if the chart pattern happens to be a High Tight Flag/Pennant?

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