Gold/ Silver ratio: One sharp fall left.
The Gold/ Silver ratio is the proportional relationship between the respective spot prices of Gold and Silver. Put simply it describes how many ounces of silver can be bought with one ounce of gold.
The ratio has been on a bearish trend since early July as Silver initiated a very aggressive cyclical rise and despite the early September decline on both metals, Silver continued to be the strongest of the two.
Based on an identical pattern in 2016 when again the ratio was on a sharp bearish channel, we may have 1 more decline left before the downtrend is completed and the ratio reverses higher.
As you see both formations have had a Death Cross before the start of the final bearish leg and the 1D MA200 (orange trend line) acted as the Resistance. Even the RSI patterns are very similar and at the moment we are at the peak before the last fall.
Our advice is to shift your portfolio more into Silver and reverse when the RSI hits 30.00 - 25.00.
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The ratio has been on a bearish trend since early July as Silver initiated a very aggressive cyclical rise and despite the early September decline on both metals, Silver continued to be the strongest of the two.
Based on an identical pattern in 2016 when again the ratio was on a sharp bearish channel, we may have 1 more decline left before the downtrend is completed and the ratio reverses higher.
As you see both formations have had a Death Cross before the start of the final bearish leg and the 1D MA200 (orange trend line) acted as the Resistance. Even the RSI patterns are very similar and at the moment we are at the peak before the last fall.
Our advice is to shift your portfolio more into Silver and reverse when the RSI hits 30.00 - 25.00.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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