Copper In Striking Distance With USD on the Brink

Looking at the extended charts in natural resources, steel, rare earths, solar and more, my bearish nature says they look ripe for pullbacks.

The U.S. Dollar Index is threatening a new 52-week low though. If it breaks, a quick drop to 88.50 is likely, which should result in blow-off extensions in various rallies. A reversal now or off that 88.50 area is likely. A reversal now could threaten the dollar bear thesis, whereas 88.50 is the last stop before the dollar begins a plunge that might last until late 2022 or early 2023.