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Commodities take a tumble as the US Dollar Index rises above its 50 Day Moving Average (USD)

Commodities have slumped this afternoon after the US Dollar Index took a good look at its 50 Day Moving Average (DMA). The move wipes the shine off recent risers, Gold, Silver, Platinum and Palladium; all dipping 1.3% to 2%. Also Crude dipped by nearly 1.5% as the Dollar threatened to retrace back into a more positive territory. The move might be short-lived though, with every failure to break this key resistance zone adding to the likelihood that the Dollar will endure further decline.

Author: Stuart Langelaan

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