by Chris Kimble
Is King$ about to turn into Humpty Dumpty and experience a great fall? Possible!
The US$ had remained inside of bullish rising channel for nearly a decade, as it created higher lows and higher highs. Things changed last year as it slipped below rising channel support.
For the past decade the 89 level, which comes into play at line (1) has been support and resistance.
After kissing the underside of the channel as resistance for the first time at (2), selling pressure has continued.
Weakness over the past few months currently has King$ testing the 89 level as support. At this time support is support until broken.
If the US$ breaks below the 10-year support line at (3), look for it to experience a great fall!
Keep a close eye on King$ over the next few weeks as its price action at (3), will greatly influece metals and commodities!!!