{"id":3338,"date":"2012-01-25T00:35:30","date_gmt":"2012-01-25T05:35:30","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=3338"},"modified":"2012-01-25T00:35:30","modified_gmt":"2012-01-25T05:35:30","slug":"gold-commodities-copper-breakout-as-dollar-weakens","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/01\/25\/gold-commodities-copper-breakout-as-dollar-weakens\/","title":{"rendered":"Gold & Commodities: Copper breakout as dollar weakens"},"content":{"rendered":"

The US Dollar Index has retraced to test medium-term support at 79.50. Respect would confirm a strong primary up-trend, while failure would suggest trend weakness. 63-Day Twiggs Momentum above zero still indicates a primary up-trend, but breach of the rising trendline warns that the up-trend is slowing. A weakening dollar is likely to cause stronger commodity prices.<\/p>\n

\"Dollar<\/p>\n

* Target calculation: 80 + ( 80 – 75 ) = 85<\/span><\/p>\n

The weekly chart shows spot gold testing its descending trendline. Respect would indicate another test of primary support at $1500\/ounce, while breakout would suggest that a bottom is forming. Reversal of 63-day Twiggs Momentum below zero would complete an iceberg<\/a> pattern, warning of a primary down-trend. The bull-trend of the last few years was driven by quantitative easing (QE1 and QE2) from the Fed. We are unlikely to see another bull-trend without QE3.<\/p>\n

\"Spot<\/p>\n

* Target calculation: 1600 – ( 1800 – 1600 ) = 1400<\/span><\/p>\n

Copper broke through resistance at $8000\/tonne, completing a higher trough and signaling a primary up-trend. Recovery of 63-day Twiggs Momentum above zero would strengthen the signal. The primary up-trend in this bellwether commodity suggests an economic recovery is under way.<\/p>\n

\"Copper<\/p>\n

* Target calculation: 8000 + ( 8000 – 7200 ) = 8800<\/span><\/p>\n

The broader CRB Commodities Index, however, lags behind. Breach of the descending trendline indicates a base is forming, but only recovery above 325 would signal a primary up-trend. Cross-over of 63-day Twiggs Momentum above zero would strengthen the bull signal.<\/p>\n

\"CRB<\/p>\n


\n<\/span><\/p>\n

Brent crude is also forming a base, after breaching its descending trendline. Breakout above 115 would signal the start of a primary up-trend.<\/p>\n

\"Brent<\/p>\n

* Target calculation: 115 + ( 115 – 105 ) = 125<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The US Dollar Index has retraced to test medium-term support at 79.50. Respect would confirm a strong primary up-trend, while failure would suggest trend weakness. 63-Day Twiggs Momentum above zero still indicates a primary up-trend, but breach of the rising trendline warns that the up-trend is slowing. A weakening dollar is likely to cause stronger … <\/p>\n

Continue reading “Gold & Commodities: Copper breakout as dollar weakens”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,35],"tags":[495,815,861,1073,3204],"class_list":["post-3338","post","type-post","status-publish","format-standard","hentry","category-gold-commodities","category-us-dollar-index","tag-brent-crude","tag-copper","tag-crb-commodities-index","tag-dollar-index","tag-spot-gold"],"yoast_head":"\nGold & Commodities: Copper breakout as dollar weakens - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold & Commodities: Copper breakout as dollar weakens - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The US Dollar Index has retraced to test medium-term support at 79.50. Respect would confirm a strong primary up-trend, while failure would suggest trend weakness. 63-Day Twiggs Momentum above zero still indicates a primary up-trend, but breach of the rising trendline warns that the up-trend is slowing. 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Respect of support and the rising trendline would confirm the primary up-trend is intact, offering a target of 86.00*. Breakout above 83.50\/84.00 would confirm the advance. In the longer term, expect a test of the 2010 high at 88.50. Oscillation of\u2026","rel":"","context":"In "Gold & Commodities"","block_context":{"text":"Gold & Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4888,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/07\/19\/rising-dollar-but-commodities-strengthen\/","url_meta":{"origin":3338,"position":1},"title":"Rising dollar but commodities strengthen","author":"Colin Twiggs","date":"July 19, 2012","format":false,"excerpt":"The rising dollar suggests weaker gold and commodity prices. The US Dollar Index continues to test resistance at 83.50. Breakout would target the 2010 high at 88.50, with an interim target of 86*, while respect would test support at 81.50. 63-Day Twiggs Momentum oscillating above zero indicates a strong up-trend.\u2026","rel":"","context":"In "Gold & Commodities"","block_context":{"text":"Gold & Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5144,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/09\/dollar-and-gold-strengthen-2\/","url_meta":{"origin":3338,"position":2},"title":"Dollar tests support, gold and commodities strengthen","author":"Colin Twiggs","date":"August 9, 2012","format":false,"excerpt":"The US Dollar Index made a false break above resistance at 83.50 before retracing to test support at 81.50. Respect of support and the rising trendline would confirm the primary up-trend is intact. Breakout above 83.50\/84.00 would signal an advance to 86.00* in the next few weeks and to the\u2026","rel":"","context":"In "Gold & Commodities"","block_context":{"text":"Gold & Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1593,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/27\/dollar-declines-gold-and-commodities-rise\/","url_meta":{"origin":3338,"position":3},"title":"Dollar declines, gold and commodities rise","author":"ColinTwiggs","date":"October 27, 2011","format":false,"excerpt":"The Dollar Index retraced to test the new support level at 76.00. Respect would confirm the primary up-trend, while failure would signal trend weakness. A trough above zero on 63-day Twiggs Momentum would strengthen the bull signal. * Target calculation: 80 + ( 80 - 76 ) = 84 Gold\u2026","rel":"","context":"In "Gold & Commodities"","block_context":{"text":"Gold & Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5596,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/26\/dollar-down-gold-up-but-crude-falls-2\/","url_meta":{"origin":3338,"position":4},"title":"Dollar bounce, gold and copper retrace","author":"Colin Twiggs","date":"September 26, 2012","format":false,"excerpt":"The Dollar Index is retracing to test resistance at 81.00\/81.50. Respect would confirm the primary down-trend, as indicated by 63-day Twiggs Momentum below zero. * Target calculation: 81 - ( 84 - 81 ) = 78 Spot Gold is retracing below resistance at $1800 per ounce*. A 63-day Twiggs Momentum\u2026","rel":"","context":"In "Gold & Commodities"","block_context":{"text":"Gold & Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5330,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/23\/gold-breaks-out-on-dollar-weakness\/","url_meta":{"origin":3338,"position":5},"title":"Gold breaks out on dollar weakness","author":"Colin Twiggs","date":"August 23, 2012","format":false,"excerpt":"Raised expectations of further quantitative easing by the Fed caused the Dollar to fall sharply. Penetration of the rising trendline by the US Dollar Index would warn that a top is forming. Reversal of 63-day Twiggs Momentum below zero would suggest a primary trend reversal. Respect of support, however, would\u2026","rel":"","context":"In "Gold & Commodities"","block_context":{"text":"Gold & Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/3338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=3338"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/3338\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=3338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=3338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=3338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}