US DOLLAR CORK IN THE SEA PREPARING TO VISIT DAVY JONES LOCKER

Saturday, December 8, 2012
By Paul Martin

by Morris Hubbartt
SilverDoctors.com
DECEMBER 8, 2012

The dollar’s failure is probably being masked by a gold market that feels a bit like it is “under attack”. The line in the sand that I have set for the dollar is 80.50. It has closed under that key price numerous times, which indicates technical deterioration.

This “Cork In The Sea” weekly chart highlights a massive symmetrical triangle formation, with a horrific final price objective of about 50 for the USDX. Where would gold trade if the dollar were to suffer such a catastrophic decline? I believe it would trade above $4000 an ounce.

The Rest…HERE

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