Gold/Silver Ratio poised to fall
Date: 7th January,2017 by Timothy Straiton
The ratio closed the week at 70.99 just under the falling 40 week moving average of 71.16 and close to the Fibonacci 23.6% retracement level of 71.49 based on the 81.80 - 31.65 range established between 2011 and 2016. Negative divergence observed on the 14 week relative strength index suggests that further downside lies ahead, focusing initially on the 63.88 level. Such a move would suggest an improving
technical outlook for precious metals in general.
The above represents the opinion and analysis of Mr Timothy Straiton, based on data available to him, at the time of writing. Mr.Straiton's opinions are his own, and are not a recommendation or an offer to buy or sell securities.
Mr.Straiton is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr.Straiton recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications.
Although a qualified market analyst with over 30 years experience, Mr.Straiton is not a Registered Securities Advisor. Therefore Mr.Straiton's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
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