Descending channel on Gold/Silver weekly chart, but at the same time a hidden bullish divergence on the weekly RSI. Waiting for the descending channel to break upwards based on information from the RSI.
Gold/Silver is breaking out a falling wedge. I’m expecting Gold to gain value against silver for for at least a few weeks. Weekly RSI is very low...there’s room for Gold to go up against Silver, but the overall trend remains bearish. I could see the ratio go up to about 85-90 and then fall again. I’ll be watching the weekly RSI closely.
20/50 ema crossed. Macd going downhill. If market does not correct heavily i expect silver at 30+, gold at 1880 after impulsive move to 32/1920$
Realistic?
Rising as expected. Tagged LONG for the reverse but remain Bearish Long-term.
Lets see if the Reddit traders can reverse this May 1st as the roomers are flying
Waiting until May 10th will have more impact.
The Gold/Silver ratio can be an important early indicator for DOLLAR price movement.
EVERY precious metal trader should study the Gold/Silver Ratio.
TRADE according to YOUR plan and your Strategy.
We might be looking at a backtest of the breakdown here, which would imply that the Gold/Silver Ratio is going to head lower if the previous support turned resistance holds.
Hello,Traders!
What an interesting chart I've discovered right now.
A chart from the era of the bi-metallic monetary systems
Where both gold and silver were used to mint coins
However, history aside, the chart is very telling
And we can see that gold is overvalued in relation to silver
And the breakout of both the rising channel and a massive ...
IF you trade SILVER you Should be familiar with The GOLD/SILVER RATIO, which typically moves INVERSELY to the PRICE of SILVER,
The GOLD/SILVER RATIO looks to be completing A WAVE-B correction, with WAVE-C starting soon in both GOLD/SILVER RATIO & SILVER, (albeit moving in INVERSE/opposite directions).
SILVER = SHORT.
GOLD/SILVER RATIO = LONG.
This is a related idea and I recommend to scan the previous ones at least briefly to understand what I am about to say.
As you can see cycles totally support the bullish market in gold and silver, since silver moves more percentage terms than gold in both directions - the reason why the ratio swings up and down. I expect gold to reach around 2050-2070 and silver...
