DXY (Monthly chart)
On the monthly chart, a good resistance line around the 102.57 (depending off the monthly candle) in combination with the Fib 61.8° (GP)
Also on the RSI there is the strong red trendline first it was support later it became a resistance.
But if we're in a really longer bear market the dxy could go till the next trendline around 109 (depending where the monthly candle will touch). Just know nothing is impossible!!!
Why? because people are selling their stocks, crypto and metals and they will put it into the dollar (meaning bullish on the dollar).
Sorry to say but for the moment it's still cash is king. not cash is trash. on the longer term it will change (imo)
If we reach that point it's probably the end of the bear and some good reasons to buy stocks, crypto and the rest again.
Also on the RSI there is the strong red trendline first it was support later it became a resistance.
But if we're in a really longer bear market the dxy could go till the next trendline around 109 (depending where the monthly candle will touch). Just know nothing is impossible!!!
Why? because people are selling their stocks, crypto and metals and they will put it into the dollar (meaning bullish on the dollar).
Sorry to say but for the moment it's still cash is king. not cash is trash. on the longer term it will change (imo)
If we reach that point it's probably the end of the bear and some good reasons to buy stocks, crypto and the rest again.
Feragatname
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