SILVER - Easy Rider
While Gold printed a big rally in May and June, Silver was just lagging.
The XAUXAG ratio near to all time highs.
I think it's time for Silver to catch up and make a huge rally in the second daily cycle of this precious metal intermediate cycle. Silver's ICL occured on the 20th of May while Gold's ICL was on the 2nd of May, so it printed the ICL 3 weeks later than Gold.
It seems the DCL was just a flag on the Silver chart.
The XAUXAG ratio should drop down to 86 in the following weeks.
Silver might test the 17-17,5$ zone by September overperforming Gold in this second daily cycle.
The XAUXAG ratio near to all time highs.
I think it's time for Silver to catch up and make a huge rally in the second daily cycle of this precious metal intermediate cycle. Silver's ICL occured on the 20th of May while Gold's ICL was on the 2nd of May, so it printed the ICL 3 weeks later than Gold.
It seems the DCL was just a flag on the Silver chart.
The XAUXAG ratio should drop down to 86 in the following weeks.
Silver might test the 17-17,5$ zone by September overperforming Gold in this second daily cycle.
Nota
Silver is on the cusp of the breakout from the flag:Nota
Broke out:Nota
We have the follow through day.Nota
Despite a strong dollar, despite the good data, Despite Gold in minus today Silver broke out powerfully
Nota
XAUXAG ratio...
Nota
In hindsight it looks like an obvious easy trade. But in real time it looked like silver would be worthless soon.Nota
We are at the multi year trendline:Nota
If this breaks...Nota
18$ is coming...Nota
Don't forget that silver can easily print 1 or 2 $ up days .Nota
Banks are fighting hard to stop the metals rally. But silver seems unstopable. It willLead the sector breaking the bank manipulation;
Penafian
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