The Gold/Silver ratio is trading at its Median price which to me is an indication that the Silver price should move relatively equal to the Gold price under current conditions
Gold dropped as the US dollar rose on the back of the June FOMC meeting, if traders unwind that position as it becomes apparent that the Fed can not taper (Look to the Bank of Canada today, they are ceasing taper, RBA also delaying taper) the US dollar will fall. The triple top resistance on Gold then gets taken and a move to the highs continues.
The 50 exponential moving average on Precious Metals and related companies is a key indicator currently.
$TLT just broke out of a corrective pattern. Would be good to see a test and continuation back up to 165.00 That could also coincide with the $XAUUSD #gold #preciousmetals getting towards their all-time highs $VOX.CA $WPM $FNV $GROY $RGLD
After the possible Fat Finger buy from JP Morgan we have actually maintained a bullish stance above the accumulation zone. The next stop higher for Silver could be the previous area of balance and the $23.70 - $23.80 levels
%% Good long term trend,silver/SLV; terrible med + short term.............................................................................IF you have bunch of copper wire you are not using good time to scrap that..................................................................................................