Bulls are also working on a fledgling price uptrend on the daily bar chart.
Silver bulls need to show more power soon to suggest a near-term price uptrend can be sustained.
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However, the bulls have more work to do to suggest a near-term price uptrend can be established.
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Silver bulls need to show more power to re-establish a near-term price uptrend on the daily chart.
However, the bulls still have much work to do to suggest a near-term price uptrend can be sustained.
Silver bulls need to show more power soon to re-establish a near-term price uptrend on the daily chart.
But that does not suggest the dollar index can embark on a sustained price uptrend any time soon.
Bulls need to show more power soon to work to re-establish a near-term price uptrend on the daily chart.
If the dollar index can begin a fresh near-term price uptrend, that would limit gains in the precious metals.
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However, the greenback bulls still have some upside near-term technical momentum to suggest a price uptrend can be sustained.
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However, the longer-term price uptrend on the longer-term monthly chart remains in place.
The greenback bulls have gained good upside near-term technical momentum recently, to suggest a price uptrend can now be sustained.
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The greenback bulls have gained good upside near-term technical momentum recently, to now suggest a price uptrend can be sustained.
However, the bulls have more heavy lifting to do in the near-term to suggest a near-term price uptrend can be established.
However, the bulls have more work to do in the near term to suggest a near-term price uptrend can be sustained.
FORBES: P.M. Kitco Metals Roundup: Gold Slightly Down, but Up from Daily Low, on Chart Consolidation
However, just because a market puts in a major low, that does not automatically mean a price uptrend can be sustained.
Gold bulls have work to do in the near term to suggest prices can sustain a price uptrend on the daily chart.
The gold bulls have the overall near-term technical advantage but need to show more power soon to establish a near-term price uptrend.
But the bulls have more heavy lifting to do in the near term to suggest a near-term price uptrend can be sustained.
Gold bulls have the overall near-term technical advantage but have more work to do to suggest a near-term price uptrend can be sustained.
However, history shows that dips in the gold market have proven to be bargain buys as the price uptrend remains firmly in place.
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The gold bulls still have the overall near-term technical advantage but need to show fresh power to begin to establish a near-term price uptrend.
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Gold bulls still have the slight overall near-term technical advantage but have more work to do to suggest a near-term price uptrend can be sustained.
Gold bulls still have the overall near-term technical advantage, but need to show fresh power soon to suggest a near-term price uptrend can be restarted.
Gold bulls still have the overall near-term technical advantage, but need to show more power soon to suggest a near-term price uptrend can be restarted.
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But the bulls have more work to do in the near term to suggest the fledgling near-term price uptrend on the daily bar chart can be sustained.
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But gold bears have the overall near-term technical advantage and the bulls still have heavy lifting to do to suggest a near-term price uptrend can be sustained.
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Still, very significant near-term technical damage has been inflicted in gold recently and the bulls have some heavy lifting to do to suggest the near-term price uptrend can be restarted.
While the U.S. dollar index is far from suggesting it can sustain any price uptrend, it does appear the index has limited downside potential at its present historical lows levels.
FORBES: Comex Gold, Silver Lower as U.S. Dollar Index Stronger, Crude Oil Sharply Lower
Gold prices are in an 11-year-old uptrend and the long-term bulls can correctly argue that until that long-term price uptrend is broken, the longer-term prospects for gold still look good.
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