Friday, December 5, 2014

This is what it means to be going down ex-USD

Here's oil ex-USD:

The US dollar obviously doesn't matter. Oil is going down with a vengeance in a basket of ex-US currencies.

Here's silver ex-USD:

Even just since last June, silver has been trending slowly downward even ex-USD. It broke into a new downward trend in September.

Here's gold:

See a difference?

Since April it's done literally nothing ex-USD. Except pop above its SMA(50) and stay there, of course.

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