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Thursday, July 30, 2009

Bottom already?

Silver was flawless... it looks it may have topped as per my last post... It reached the red box and from there it plunged remarkably... we are now sitting at the $13.15 mark.

As for USD it seems we may have bottomed I already said 5th wave could've truncated. The thing is the continuous contract on DXY didn't make a new low, but the contracts for September did indeed make a new low, so this validates it... Also the rally today makes it very hard that to be wave 4 of final 5th. It is just too big and its structure looks indeed it has 5 waves and not 3, as it would be required if that were to be a wave 4.

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