The US Dollar ($USD) Resumes Its Downtrend

I keep watching the US dollar, because the action there defines the market. Looking at the chart, you can see that the US dollar banged its head twice on overhead resistance and has now resumed its downtrend.


(Updated chart)

Crude oil continues its March to the cellar, even as one expert/chattering head after another tries to call a bottom. Gold is headed higher as the dollar goes lower. My recommendation to $10 Trigger Alert subscribers last week that they buy Barrick Gold ($ABX) and Silver Standard Resources ($SSRI) is working out well .... for now.

Just remember things can change quickly in this market. That said, I am bullish on select precious metals miners for reasons I laid out in $10 Trigger Alert issues.

I am in Elko, Nevada, looking at a gold project. This one is very early stage, but very exciting at the same time. More on that another time.

Good luck to us all, and good trades.