EOD Market Update on Silver (SLV) 10/10/2017
Summary: Silver is moving technically very well and we saw a pole and pennant form in the intra-day trade. What we want to watch for is a move in the overnight for another push to the upside that could take us over the .618 retracement level to define the upper end of the newly forming channel. Your stops should be set fairly tight as a case can also be made that this current move is terminating.
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Nice analysis mate :)
Very bullish on Silver and Gold here. For Silver, it's also worth looking at the ratio of silver to gold price. We can see silver is at very low valuations compared to gold, and it usually doesn't stay here very long.
So there's reason to believe that if precious metals continue to be bullish, that Silver will appreciate faster than Gold will.
Here'es the ratio historically you can see it swings between 80 and 40 in recent years
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