A level of support for Silver has found its way in the form of an upwards trend line as well as a horizontal base at the 16.80 level. We'll be looking for price action here to determine if it will make its way higher, or if there'll be a break down to the next level of support at the 16.30 area.
Target 1) 15.280
Target 2) 15.600
Stop Loss 14,860
FOMC Minutes today at 19:00 (London time) 06-April-2016 Break below Andrew pitchfork line might be starting to down trend. This is for my trade journal only feel free to comment.
Nice little run up, rode some of it but got skittish at $17, pin bar being printed on the 4hr, suspect we do a healthy retrace here to continue the run up
The big direction of this ratio is obviously down, and there are only three ways this ratio can go down: 1. Silver going up and Gold going down; 2. Silver going up more than Gold going up; 3. Gold going down more than Silver going down. #3 is very unlikely and #2 is most likely. Personally, I'm long both metals.
