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May 18, 2015

Is #silver about to break on the upside?

#Silver - a long-term chart - just about breaking out on the upside of the huge downward wedge


Attached you find a long-term chart on Comex silver (future contracts). The chart is just about to break out of this huge almost 4 1/2-year downward wedge.



 Gold/silver ratio - Falling below 70 - an encouraging sign


It is the first time that the gold/silver ratio has fallen below 70 since last October 2014. If we get something going in the gold price, silver has to lead on the upside. Friday's action was encouraging but we need more confirmation.


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