Silver's make or break appointment with NFP'sMake or break? I wish I knew. The last 3 years is almost always break, I think.
Fact is that is so easy for sellers here, that if the line breaks there are going for targets lower derived from both triangles. Easy is sometimes suspicious.
This weeks down candle volume is 1/4, up to this morning, of the volume of last week's doji. Posted current contract days ago, update here:
Dimitri Speck's seasonal chart says that first two weeks of May are mostly bullish for the last 37 years.
www.seasonal-charts.com
Sentiment trader's data shows 28% bulls at support.
Gofo rates 1-6 months are still negative.
The best of luck,
Cheers,
Panos
SIL
GDXJ/GDX Ratio put a piercing line candleJuniors/Large producers ratio put a piercing line candle yesterday in the daily (not shown), right at the last weekly support/demand zone.
If confirmed, might be a good signal that Gold has a chance to go higher like the last time it happened and fight the outside weekly reversal which is an ominous sign on its own.
A close above 1,52 in the ratio will be good for the IH&S structure that exists both in miners and gold, hinting that 1,59-1,62 area is achievable.
Bear in mind, that both are still in a downtrend and last week's sentiment data does not yet reached pessimistic levels, while public opinion in Gold is at medium to low level and not yet in extreme negative zone. GOFO rates are negative for the last few weeks, always a good sign for PM complex longs.


