Following up my outlook on silver, this furthers my bullish silver bias. The last monthly close has wicked massively from the topside. Either this is a channel that has broke above and bull trapped or (depending on where you draw your trend lines) it could be a broadening wedge. Either way I would see this as bearish for the gold to silver ratio.
At the very least I surmise that this would have to touch/test/SMASH/DEMOLISH the bottom trend line, right?
To summarise. If this was a price chart for an asset; I would certainly be weary of longing it right now!
At the very least I surmise that this would have to touch/test/SMASH/DEMOLISH the bottom trend line, right?
To summarise. If this was a price chart for an asset; I would certainly be weary of longing it right now!
Comment:
Tried to clean the lines up a little bit and also showing a lower time frame (weekly). Looks good!
