Gold and the Miners

http://scharts.co/QO8wOW

The chart on gold and the miners is "OK", but the consolidation at present levels is not going well.

1785 has lacked volume to move up further due to dollar hesitation at 79.18 on the close Friday.

The dollar rejected lower price and has higher price points at 79.82 and 80.81. If goes up there gold will pull back.

If gold closes at 1775 or lower there could be a dramatic pull back, maybe as low as 1570. If it happens
it is a buy needless to say, the miners are underpriced and I am buying them as they dip. I would like a pull back.
But we know how that goes.

Lots of commodities action confusing the market, oil in particular, so be careful since 'tis the season for nonsense.

Best, Islander

Thanks Islander

My present thoughts on the dollar and commodities.

Best to you.