Become a Patron


Subscribe on
iTunes    Android
YouTube    RSS

Gold and Silver are Breaking Out…..

by Greg Harmon
Dragonfly Capital

…..in Euro terms. Remind you of anyone? Well it is true. The ratio of Gold ($GLD) to the Euro ($FXE) is breaking a 13 month symmetrical triangle higher, as shown in the chart below. Consolidating the break higher at 1.32 it has a target from the pattern break to 1.51. If that move

happened solely from a move in Gold prices that would mean a move higher to about 1960 in the price of Gold. The indicators shown, Relative Strength Index (RSI) and Moving Average Convergence Divergence indicator (MACD), also support a move higher in the ratio. And the same thing is showing up in the ratio chart of Silver ($SLV) to the Euro, below, only this triangle is 6 months longer. The target for this pattern is to a ratio of 0.385 or over 50% higher, which would bring Silver back close to $50 if that solely drove the move. This chart looks like it needs a

Continue Reading at DragonflyCap.com…

Comments are closed.