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Well October is almost here and its time for the baseball post season to start today. Speaking of baseball, is a “New Deflationary Ball Game” starting in a variety of assets?
This 5-pack reflects that a variety of long-term support and resistance line breaks are taking place.
The U.S. Dollar (upper left) is pushing above a 9-year resistance line recently. At the same time the TR commodity index, Gold, & Silver are each breaking a support line that has been in place for over a decade. Crude is attempting to break a 5-year support line at this time.
Are we seeing the beginning of a whole new price game for these key global assets?
It is still early in this process. Should the US$ keep pushing higher, these other assets could find themselves a good percentage below current prices.
I have shared for the past two years that Silvers downside target that I am interested in comes into play around the $15 zone, which is fast approaching.