Gold/Silver ratio on its way to 88.
Updated
The chart suggests that the correction will continue untill it reaches its long-term support running from 2011. It is quite logical that this will follow after the washout experienced by precious metals in March causing this anomaly when silver lost about 50% of its value in terms of gold. I am expecting the ratio to be equal to 88 by early July. This implies a bullish market for gold and silver, where XAGUSD will outperform. Lookout for updates regarding silver, we will see some interesting price targets and nice trading opportunities.
Trade active
Target could be reached by June 29th. When the ratio reaches 94.70 - the previous low, I will use the profit from my current position to pyramid and open another position.Trade active
94.70 sell stop activated, added to our current position.Note
Silver looking very very strong. Target to be reached soon.Trade closed: target reached
It has reached the line of support.
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