DislikedLast time I looked, I think we were closing below that trend line......I would want to see it prove itself first personally.Ignored
just curious...
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DislikedLast time I looked, I think we were closing below that trend line......I would want to see it prove itself first personally.Ignored
DislikedThe gold-silver ratio was (I meant to post this chart yesterday morning) at its lowest level in 30yrs. You don't have to go as far as me and short silver, but if you're buying precious metals, I don't understand why you'd want Silver -- I'd be looking at Gold/Platinum/Palladium.
Today this is about 32.85, so no longer at 30yr low...Ignored
DislikedI think this may speak for a few of us here, but we probably tend to use a trend line as an extra reason to make the trade if price is reacting to it, not trade 100% purely because of it.
To me, a trend line can act as a dynamic Support & Resistance but I don't believe it holds the same strength as a real S/R area (Say the 80.00 area on the USD/JPY)
So to speak, if price reacted at the 80.00 area and there was ALSO a trend line there at the same time and place, then it adds to the reason to make the trade.
Hope that helps...Ignored
DislikedRight now that ratio is $1518 / $39.08 = 38.84, or 18% higher than when I posted this (< 1 week ago). Not even I thought it would rebound that fast. I took profits, but I'm guessing this probably has further to go as all the froth gets wrung out of the silver market. Did anyone else notice that more shares of SLV traded than SPY (arguably the largest and most liquid ETF on the planet) the other day? I think that tells you something...
I guess even a blind squirrel finds a nut.Ignored
DislikedBTW, anyone out there watching copper? Usually a good one to follow for clues about the health of the global economy. Sitting right at support. Perhaps it just got taken down with all the other commodities or perhaps it's telling us something about growth. I'm not smart enough to know but I'll be watching for what it does next.
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