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Soaring US Dollar & Higher US Interest Rates are Metal Market's Enemy

So as we come back to these markets and we look at the gold, one of the things we've been talking about, is the market action. This was our first test that we just made this a weekly chart of the 18-week average of causes. We're down for the week, by 1.6%. So, here's your test coming in, you can see how the market fell apart and today was a huge outside day to the downside – that is very important to understand that is a signal the market's got a problem, but this all began back here.

And this is so important to understand outside days, at least to me, it is. When I come back and I do my analysis on charts – here you go with the market that has an outside day up.

Here's your outside day up. Outside days are often continuation patterns unless they're violated. So, since the market has been coming up, I'm looking for a continuation, but what cannot happen is the lows, and this was the low of February 1st; it that has been taken out within two trading sessions, you have what's called a "bull trap." The market comes down, takes it out. Unless it goes right back over that top saying, 'Hey I got you' and then, 'No, I don't.' What happens is the market starts on a correction mode. Now, where it goes, and so on.

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