Description
⋅ A sideways B of B wave is almost complete and a violent C of B may be next. A breakup on GSR would likely be larger drawdown in metals.
If the GSR breaks down, it's very bullish for metals, but right now momentum looking like it wants to go up.
Comment
⋅ GS getting close to a breakout here. Silver is getting killed. Comment
⋅ silver is close to major support of 22.30 with hidden daily bullish divergence. Comment
⋅ breakout on G/S ratio - bad for metals especially silver. Comment
⋅ weekly breakout continues, Any drop in the ratio is a short opp for silver especially.