Bulls are revved up and ready to rumble, judging from the way they smashed through the 113.58 Hidden Pivot resistance two weeks ago (see inset). That told us that the selloff that ensued would prove to be merely corrective, as it has. They didn’t pause for long to carve out a nice bottom, however; instead, a v-shaped trampoline bounce suggests buyers are headed straightaway for the 117.16 ‘D’ target of this pattern. They’ll need to get past p=113.61 first, but if it’s a pushover, watch DXY rip even higher.
DXY – NYBOT Dollar Index (Last:112.75)
