When we look at the gold market, you're up two and a half percent. When we take a look at the action, you've got higher lows and higher highs. That is bullish.
When we look at the gold market, you're up 1.86 percent. The pattern is bullish, though. You do have a pattern of higher lows, higher highs. So, the trend is up.
More and more long-term investors will be attracted to the gold price after the drone bombardment by Ukraine of Russia’s key deep inland military bases.
Since gold recently soared to crazy-overbought extremes, the odds for a doldrums selloff this year are much higher. This mighty gold bull needs a healthy rebalancing selloff before resuming again.
It's still unclear whether the ratio has become oversold enough by the monthly RSI. But the risk/reward situation favors silver over gold, regardless whether the ratio has bottomed yet.
