gold holds the 1183 mark while silver crashed right through 14.300, now the most likely scenario is both will take a dive and the Ratio of 85 that everyone has been talking about is going to widen. just because it has gone once or twice above the 85 doesnt mean it cant go again. the highest it has every gone is around the 100 Mark. we still have room for the upside. the more ppl pouring into silver due to its price thinking its a great buy, the more it will take such dives. There is no reason it cannot fall another 2 dollars and if gold is triggered as well with this fall than 10$ silver is a good possibility. Some pundits have just made a fool out of themselves by misleading ppl that silver will go 100 200 or 300. this is just not going to happen and the famous rumor JP morgan is accumulating physical silver and selling paper silver to bring the price down it is being manipulated. People really need to trade the asset as it is and not get emotional about it i believe. So I think we have some more downside in place. We can do a bounce towards 14.6 or 15.2 before we take another dive. thats my 2 cents , Cheers!
fifty2kph
⋅
@shaxrashid, I agree, looking at the RSI, silver has a way to go down before it's oversold, when it does reach there, it will be only the third time in it's history, the other two times both preceded bull runs. Also people always focus on silver action to reduce ratio, but could easily be gold.
shaxrashid
⋅
@StrivingYogi, exactly just like people think brent has a wider gap than crude so WTI will rally, but it can be the opposite as well. This is no indicator for the price to move up or down.