Silver/Gold ratio popping out of downtrending channel
I follow this closer than normal the last two months, as we are approaching one of good periods according to seasonal historical data, that usually price starts bottoming around June/July and rally late July to end of September.
seasonal-charts.com/future_metalle_gold.html
This is the same chart posted a couple times before, but the rounded bottom I was hoping for starts to building. We will know if its an Adam&Eve double bottom after the ratio will break 0.17-0.18.
Momentum is diverging, forming a possible IH&S, and as the title says, its popping out of the downtrending channel from the highs.
Last week's sentiment and public opinion readings were at the low level but not reached extreme pessimistic areas.
Still not out of the woods, as the say, but all these elements together with the close to record amount of shorts in silver in last COT's, says that bigger positions towards silver probably will perform better than Gold's. Personally my exposure is 60/40 in major vehicles and 70/30 in the leveraged one's or silver junior stocks to majors.
Last two-three weeks were extremely profitable in the sector. After long, long time in the pain.
All the best guys
Panos
seasonal-charts.com/future_metalle_gold.html
This is the same chart posted a couple times before, but the rounded bottom I was hoping for starts to building. We will know if its an Adam&Eve double bottom after the ratio will break 0.17-0.18.
Momentum is diverging, forming a possible IH&S, and as the title says, its popping out of the downtrending channel from the highs.
Last week's sentiment and public opinion readings were at the low level but not reached extreme pessimistic areas.
Still not out of the woods, as the say, but all these elements together with the close to record amount of shorts in silver in last COT's, says that bigger positions towards silver probably will perform better than Gold's. Personally my exposure is 60/40 in major vehicles and 70/30 in the leveraged one's or silver junior stocks to majors.
Last two-three weeks were extremely profitable in the sector. After long, long time in the pain.
All the best guys
Panos
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.