The dollar index is retreating from it 3 month high on Tuesday when the index moved to the 78.54 level. Today’s low at 77.50 is basically a one point retreat.
Fast forward to the metals and we are seeing a bounce higher.
March Silver posted a high so far today at 1746, with a low at 1716. Feb gold has a high today at 11069, and a low at 10883.

Finally, we check out Feb crud oil. Today we have a high at 77.51, a nice bounce back from our lows just 8 sessions ago, just below 71. Not surprisingly, we are closing in on the half-way back area. With the Oct high at 83 and the recent low at 71. A 12 dollar break. Half-way back is 77. HMMMM.. Today’s high is HMMMMM. 77.51

You can thank the simplest of all technical analysis rules. The halfway back move.

Check out my posts from about a week or so ago. I did 2 or 3 articles examining the 1/2 way back phenomenon in trading in all markets. I hope you read it and take it to heart.

Just remember, simple is best, across many aspects of life.

Good Trading.

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