I'm looking for the ongoing precious metal rally to take Silver to the $19.75 level, above where we can expect some resistance and possible shorting opportunities. The midpoint for this setup is circled, a clear breakout point.
In addition, there is a supporting setup in the gold/silver ratio chart which may validate the case I'm making for the silver rally...
Look for the ratio to bottom below the 94.24 level. The midpoint here is also a clear breakdown point.
If the two levels mentioned above are reached around the same time, the reversal case will be that much more compelling.
In addition, there is a supporting setup in the gold/silver ratio chart which may validate the case I'm making for the silver rally...
Look for the ratio to bottom below the 94.24 level. The midpoint here is also a clear breakdown point.
If the two levels mentioned above are reached around the same time, the reversal case will be that much more compelling.