Head & Shoulder Pattern in GoldSilver Pair. Bearish Reversal in GoldSIlver Pair and a head & Shoulder pattern was observed indicating a bearish reversal.
Gold Silver ratio make Lower high and follow a trend line. According to the trend its look down to the support at 86.500 and resistance at 89.800. if 89.800 break above trend then it might touch 91.100
The inverse relationship between XAUXAG and Gold prices is exceptionally strong.
I believe XAUXAG is currently going to continue declining for technical and fundamental reasons.
Fundamentally being that interest rates are likely to come down in the not too distant future and this market will be pricing that in.
Plan B is unlikely and will review if I get stopped out.
We are right at the trendline. I expect a sharp move down, this month/ next month. This plays well with Silver chart ( it has inverted head and shoulders pattern). If GSR goes above 84 with momentum, it would be better to stand aside for a moment (actually i wouldnt be surprised if we visit 84-85 on the weekly, and close it at 83 or lower, that would create...
Many, many factors support the outperformance of silver ...
The longterm chart of the gold/silver ratio shows the holding of the down trend, and since I did the chart in March it has been retested and now continues it's downward march to levels few can believe right now.
Medium Term (Weekly Chart)
We are seeing pinbar candlestick close this week.
The ratio may decline next week.
$90 levels are strong resistance, the price can rise as much as this level.
Long Term (Monthly Chart)
After the 5-wave rise, the gold-silver ratio entered a downtrend.
According to Elliot's wave theorem, I think we are in B wave bullish.
$95-100$ levels are critical levels.
🥇XAUXAG🥈 heading to strong resistance level. It's confluence of trendlines and 50% fib retracement of the initial impulse breaking the major uptrendline. I expect backtest of it and possible reversal which would be bullish for both metals.
Check my other stuff in related ideas.
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⚠️Disclaimer: I'm not financial...
How strong silver will be in the next two years can be shown in this picture. Of course, gold is also good, but not as good as silver. The US dollar may face the embarrassment of crazy devaluation. The American system has been severely damaged and has gone too far from universal value. This is the result of the deterioration of American social morality.
If you can't see the gold and silver, then the gold and silver ratio shows the standard 5 wave falling model very well. At present, the four wave callback has ended. Then start 5 waves. In addition, after the end of the five waves, there may be a big rebound, and a second wave rebound of a higher level. To tell the truth, there are too many bad people in the world...
Something gonna be repeated ?!
According to Uptrend regression line (long) the ratio would oscillate around base line,
the rate of xau-usd descent is more.
The trend is your friend in a hedge. Trading XAUXAG means going long gold short silver. using the daily tf is the safety net
green is more gold while red is more silver - which is winning?
Trade in hedges and you win all the time
gold vs silver hedges - either buy buy or sell selL or buy sell or sell buy - you win
The trick is never only long or short gold alone...
Just Imagine
Next 91 and more
Disclaimer!
This post does not provide financial advice. It is
for educational purposes only! You can use the
information from the post to make your own
trading plan for the market. But you must do your
own research and use it as the priority. Trading is
risky, and it is not suitable for everyone. Only you
can...
‼Dear friends, the direction of long-term analysis does not change much. (Weekly-Monthly Trends)
But the length of daily and 4-hour trends is very short.
That's why we need to constantly update our short-term analyzes.
Today we will continue our gold and silver analysis.
💸Macroeconomic Overview
FED's hard interest rate hikes, along with precious metals, caused a...
