Today, overall, was a good day and more importantly, the markets behaved the way they should. Here's the breakdown:

Dollar

The dollar index (DXY) was down sharply by over 0.65 closing at 95.117. As I had written in my earlier blog, I expect the decline to continue to 92 handle. Lower DXY should have triggered higher gold, silver, and oil and it surely did.

Gold

Gold closed above the critical $1,220 level (up about $11) and now breaks away from the bearish channel. Strength at this level on Monday will confirm my upward bias.

Silver

It would appear that silver had a very good day closing at $15.96 (up 28 cents). However, from my perspective, it failed to breach the all pervasive bearish channel (see blue line below in the zoom view). It touched it but couldn't sustain the level.

From long term perspective, if gold continues with its momentum and silver breaks through this resistance then I expect a sharp move up by almost $1.30. See the Green area in the chart below.

So this is not the time for being bearish on silver. Nor is the time to be bullish. Wait till Monday to decide.

Ethereum

In my blog yesterday, https://steemit.com/steemsilvergold/@ajain/daily-blog-july-13-2017-storm-front-approaching-mood-indigo, I had provided the analysis that I expect Ethereum to further go down and to touch $180 level. Despite some heavy buying for Pillar Project ICO tomorrow (Saturday 8 AM UK time), Ethereum was lower. I continue to maintain that it will touch $180.

It is clearly in a bearish channel right now and for me to get excited it has to cross the green zone and then cross the purple zone before bullish confirmation can be made.

Most interesting news that I was tracking today was Jamie Dimon critical analysis of our state of affairs. For once, I agree with him. It is a shameful state of a country when the congress is gridlock and the president flip flops on every issue and the media is hell bent on finding something to do with Russian collusion. It can't end well as all the parties involved have locked themselves into a position.
Flip flopping by FED is not helping and the markets are beginning to expect no rate increase in September and possibly a rate cut by December. This has to be very bullish for gold and silver.

Such is life and reminds us the need for being prepared and be safe!