Weakness in the Dollar over the last few days spurred buying in gold and oil. The chart below shows the Gold ETF (GLD), US Oil Fund ETF (USO) and DB Dollar Bullish ETF (UUP) over the last seven days. Gold took off first with a move on March 26th. Oil followed with a sharp surge on March 29th.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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