Gold & Silver- Desperately need this to hold!

Below looks at the Silver/Gold ratio over the past 30-years. Metals bulls (both Gold & Silver) want to see the ratio moving higher, to send a quality bullish message to both.

The ratio has spent the majority of the past 30-years inside of rising channel (1). When the ratio hit the top of the long-term rising channel back in 2011, the ratio put in a large bearish reversal pattern at (A). This is where both Gold & Silver both started turning weak.

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Over the past 5-years, the ratio has created a series of lower highs and lower lows inside of falling channel (2), which is not long-term bullish for the metals. The ratio hit rising support at the start of 2016 and short-term counter-trend rally took place, which took it to the top of its falling channel last summer.

The lows over the past 13-years and rising support (1) come into play at (3), as a dual support test.

Gold & Silver bulls BIG TIME want to see support hold at (3)!!! If support would fail to hold at (3), it would send a long-term concerning message to Gold & Silver bulls. What happens at (3) should send a very important long-term message to the Gold and Silver markets.

Why do you see very few comments?  Because the Power of the Pattern provides all you need to see what is taking place in an asset and determine the action to take

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