Looks to keep grinding up, at least for another 6 months in this rising wedge.
You can't trade between silver and gold, but its certainly worth taking a look at the key support/resistance. On the break of this rising wedge, I might consider trading some of my physical gold bullion I've collected over the years for silver.
I count 5 waves inside that wedge. Might have already topped.
IvanLabrie
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LastBattle
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Nice, but I'd still prefer it to break that wedge first :)
Since I'm holding physical ones, and there's a 2% spread trading on and off.
janos666
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Is there really a point in EW on a chart like this where gold and silver aren't directly traded against each other on a regular basis?
IvanLabrie
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Is there a point in a ratio chart then?
I don't base my assumptions on EW though. Wedge is there, and price action is readable, like any technical chart.
You can also compare both chart's individually vs usd and you'll see gold has been outperforming silver vs the dollar for some time now.
LastBattle
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This is Gold / oil :) Although its not traded against each other but there's always a correlation to when this rises faster, and when the other.