All Signs Point to a Monster Move

These two things have a fascinating relationship. [Jeff Clark's Market Minute]( All Signs Point to a Monster Move By Imre Gams, analyst, Market Minute [Two weeks ago]( I wrote about the dollar setting up for a sharp selloff. Since then, the U.S. dollar index (DXY) – which tracks the buck’s performance against a basket of other currencies – has declined by as much as 2.36%. This recent weakness in the dollar means that one of my favorite markets is now setting up for an exciting [bullish]( breakout. I’m talking about gold… Recommended Link [“Sorry, We’re Sold Out – Want $1 Million Instead?”]( [image]( Weeks from now, every store in America could be forced to shrug and tell you: “Sorry, We’re Sold Out… Here’s a [$1 Million Gift Card]( for Your Troubles.” It sounds absurd – but according to history, this has already happened 30 times in major economies. And according to investing expert Dave Forest: “If this crisis unfolds the way I predict… this actually becomes a GREAT business decision for the store owner.” We set out to uncover the truth from inside the aisles of [this U.S. superstore (watch the video right here.)]( [Click here for full details.]( -- Gold and the U.S. dollar have an interesting relationship. While the value of the dollar isn’t the only factor that influences the price of gold, it’s an important variable. Historically, the dollar and gold tend to move in opposite directions. When the dollar falls, gold goes up. And when the dollar rises in value, gold prices tend to drop. That’s why I keep a close eye on what the DXY is doing. If the DXY looks like it’s about to have a big move, then I’ll look at the gold market to see if it’s ready to trade in the opposite direction. So, today we’re going to check out a weekly price chart of one of my favorite gold stocks, the VanEck Gold Miners ETF (GDX), to see if this is the case. As Jeff Clark wrote last Thursday, [gold futures are trading in a consolidating triangle pattern.]( When this pattern completes, it almost always results in a big burst of energy. And now, GDX has broken out of its own pattern. Based on the current setup, GDX is setting up for one monster of a move. Let’s take a look… [chart] [(Click here to expand image)]( I’ve drawn this pattern using blue trend lines. Old-school technical analysts call it a falling wedge. A telltale sign of a falling wedge is when both trendlines are pointing in the same direction. The deeper the prices trade within the wedge, the narrower the space between the lines becomes – increasing the odds that a breakout is going to happen. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. I’ve also included a 200-day [moving average]( (MA – red line). This MA should serve as strong technical [support](. If we put all of this technical evidence together, I believe there’s a strong case for what would be a long overdue rally in gold and gold stocks. [New Financial Warning [Viewer Discretion Advised]]( So, let’s quickly recap that evidence… - The U.S. dollar is breaking down. - Gold futures are close to breaking out of a year-long triangle pattern. - GDX has just broken out of a year-long falling wedge pattern. These factors set the stage for great trading opportunities in gold and gold stocks. And if I’m right, it’s going to be one monster of a move… Happy trading, Imre Gams Analyst, Market Minute Reader Mailbag Where do you think gold and gold stocks will head next? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. In Case You Missed It… [Tesla CEO, Banks, Hollywood, and Congressmen Prepared for Major Crypto Event??]( Elon Musk made $121 billion in 2021… But thanks to a major crypto event… Elon could get even richer starting Friday, April 1st, 2022. And he’s not the only one… According to Teeka Tiwari, the man voted #1 Most Trusted Crypto Expert by 130,000 analysts… He’s identified seven billionaires including Peter Thiel and Mark Cuban… Major banks like JPMorgan, UBS, and Goldman Sachs... Along with celebrities and Congressmen… Who are now positioned to profit BEFORE the April 1st deadline. If you own any crypto… Or plan to buy in 2022… [Watch This Video Now. (#1 Best Crypto Revealed Inside Free)]( [image]( Get Instant Access Click to read these free reports and automatically sign up for daily research. 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