I present this potential Cypher for several reasons: 1. This ratio will rise as Silver rises. As the CD leg is a rally in this ratio, this implies Silver is rising as well. The fact that this CD leg appears to be setting up for a move to the PRZ is further implication that the metals may be turning. 2. IF one agrees that Silver is headed higher longer...
W: Breakout in progress D: Pot'l Top of channel Pot'l bearish Divergence, if so, watching TP as support for rebound, or rez for sinking more
I TEND TO NOT BE A BUYER ON BREAKOUTS BUT THE ACTUAL COMMODITY LOOKS LIKE IT HAS ABSORBED A LOT OF SELLING AND INCREASED OPEN INTEREST. IT LOOKS TO ME LIKE A SHORT, AND IF WE BREAK ABOVE 42.80, 46-48 SEEMS POSSIBLE. i'M USING THE 4/42 CALLS WITH A LIMIT ORDER @ $1.00...DO NOT CHASE THIS ONE...OZ
AGQ is a etf that tracks 2 times Silver. I am really bullish on silver for 2016. After a breakout from a long term range, looks like a good entry for long silver