China’s Yuan continues to fall.
Causing the US Dollar to strengthen. Dollar Index follow-through above resistance at 95 suggests further gains unless China intervenes to support the Yuan. Long-term target for the advance is 103.
Gold plunged through support at $1200/ounce. Expect a test of primary support at $1130 but the long-term target is the 2015 low of $1050/ounce.
A Trend Index peak below zero warns of a strong decline on the Australian Dollar.
But Aussie weakness was not enough to shield local gold miners. The All Ordinaries Gold Index (XGD) broke support at 4900, offering a long-term target of 4100.
Local gold stocks are getting hammered, as I feared.