Using a longer-term chart has somewhat raised my minimum downside target to 99.72 from the 98.71 objective given here earlier. This midpoint Hidden Pivot support warrants close watching, since its failure, especially if decisive, could portend a move in the U.S. dollar from purgatory into the first circle of hell. A fall all the way to the 93.55 target would stoke inflation while giving gold and silver a strong boost. The A-B leg of the pattern is legitimately impulsive, and so we should expect it to give us an excellent read on the forces acting on the dollar.
DXY – NYBOT Dollar Index (Last:101.71)
