Chart of the Day: Potential Dollar Plunge?

Look at this chart of the US Dollar Cash Index...Here, you can see that the US dollar has definitely broken its recent uptrend line. This puts the longer-term downtrend back in play. Also, the 10-day moving average (the thin blue line) is diving below the 50-day moving aveage (the thin orange line). This indicates that weakness is intensifying.

So, what does this probably mean for precious metals? Up, up and away!

Silver is already breaking out as I pointed out in a post two days ago. And it's outperforming gold. Hmm...

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