OK....Back on topic now. I'm an avid watcher of the US Dollar and it's effect on the markets, PM's & AYN in particular. One of the other reasons is that I beleive Bernanke and his cronies also come out every now & then with their announcments etc. especially when the dollar is on the rise, in order to beat it back down again. Many reasons I assume but two that always stick in my mind are: 1. lower dollar helps US exporters 2. the inverse relationship between the the dollar & the markets...generally one goes up when the other goes down....risk on / risk off so to speak.
Anyhow, cut a long story short, I suspect a Bull Flag is being generated at the moment on the dollar chart. Please see attached.
Now unless Bernanke comes out over the next few days and talks about some form of monetary assistnce etc. I suspect we will see some more upside....probably until the next Fed meeting due on the 24th April. So, I suspect some more downside action until then or close to it. Lets see how it pans out shall we?
AYN Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
