In this report, I cover the early market action from London on Friday, November 2nd, 2018. I look briefly at the precious metals, the stock market, the dollar, the bond market, and the oil price.
Today the focus of my report is to look at the technical picture for the dollar index, the dollar/yuan, and the gold price. I show how both the dollar index and the dollar/yuan look to have both put a major double top and how gold has bounced of very strongly off a key support around $1212.
My conclusion is that we could see continued weakness in the dollar and strength in the Chinese currency and that a bottom might definitely be in place for gold at the August-2018 low of $1161.
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