Eye on Miners and US Dollar

Based on the technical setups exhibited by my attached charts of NEM (Newmont Mining), GDX (Gold Mining ETF), WPM (Wheaton Precious Metals [Silver]), and DXY (US Dollar Index), the most impressive and promising setup from my technical perspective is NEM, which has pivoted to the upside from my preferred WEEKLY Target Window (27.50 to 30.50) and has the right look of the completion of an unconfirmed major corrective phase from its April 2022 high at 86.37 to last week's low at 29.42. 

GDX and WPM have turned up sharply as well, and as long as any forthcoming weakness in GDX is contained above support at 25.50-26.50, and as long as any forthcoming weakness in WPM is contained above support at 38 to 39, these names deserve "honorable mention," and their ability to take out heavy overhead resistance (including NEM) could well be a function of US Dollar (DXY) weakness in the days and weeks ahead. DXY needs to press and close beneath 103.50 for starters, and then follow through below the 50 DMA, now at 103.30 to gain serious downside traction that will provide significant tailwinds for the precious metals complex... 

... And that prospect may well be a function of what Fed Chair Powell says and implies about monetary policy on Wednesday and Thursday of this week... MJP