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