Looks spooky. I'm long, but this is having me second-guess that position. Maybe wait for the resistance to break about ~1380, but that's a good 15% from here. Marking this chart as a short because that's what I think it shows. Primary trend is real bearish!
I like how point and figure charts compress price action without respect to time. Instead, it shows you the...
The gold/silver ratio is at very high levels right now. I have heard that this indicates a dis-inflationary environment, but that's a little over my head.
I've marked the past three recessions for reference.
We're basically at the 50-month moving average
We've broken the support that extends from the 2008 recovery
If we break the 50-month, the next support is a volume support 10% below that. Assuming a 50-month moving average is a support.
Another 6% below that, we have a 100-month moving average.
Below that, a 28% drop to a volume support.
I'd like to buy...