XAUXAG is in a daily corrective structure. Currently its making a daily (b) corrective wave. I am expecting one more up move as a corrective wave before the big fall in this pair! Just showing u the relation of Gold and Silver so u guys can continue with your gold and silver trades! So keep an eye have a good weekend!
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Look to sell at the top of the current flag, on smaller time frames if it breaks the trend line then add to it. Potentially a big move ot the downside.
I would be positioned short the ratio (net long silver/gold) as the ratio looks set up in a bear flag, suggesting medium term downside on the weekly chart.
The Gold/Silver ratio shows an interesting setup here, and correlation to inverted SPX, which points to the nature of the ratio's movement tied to risk off/on phases. This has to do with the real world applications silver has as an industrial metal, compared to gold's function as a store of value and risk off protection.
I think we can see a long term decline,...
