I follow this closer than normal the last two months, as we are approaching one of good periods according to seasonal historical data, that usually price starts bottoming around June/July and rally late July to end of September. seasonal-charts.com/future_metalle_gold.html
This is the same chart posted a couple times before, but the rounded bottom I was hoping for starts to building. We will know if its an Adam&Eve double bottom after the ratio will break 0.17-0.18.
Momentum is diverging, forming a possible IH&S, and as the title says, its popping out of the downtrending channel from the highs.
Last week's sentiment and public opinion readings were at the low level but not reached extreme pessimistic areas.
Still not out of the woods, as the say, but all these elements together with the close to record amount of shorts in silver in last COT's, says that bigger positions towards silver probably will perform better than Gold's. Personally my exposure is 60/40 in major vehicles and 70/30 in the leveraged one's or silver junior stocks to majors.
Last two-three weeks were extremely profitable in the sector. After long, long time in the pain.
haven't thought about SLV in a while....looks like a potential winner, good call
pantheo
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We still need 3-4 weeks for bottoming according to seasonal, historical, data. This week's sentiment and public opinion are even lower than the previous, which is good for future longs. Also, if loose 18.5 -18 support be prepared for 17.50-16.50 or even a dramatic spike to 15, which is the target of the broken triangle to throw out all weak hands before reversing. That said, mind your size bets my friend, and be prepared for everything;-) We are in a downtrend, still. All the best, P.