The German team have turned decidedly bullish on the bullion. And are also forecasting a lower gold silver ratio ie relatively more bullish silver than gold. Both instruments are stretching their ratios to their industrial peers of copper and oil. This isn’t necessarily bearish but it is something to keep a watch on as an indicator of risk and volatility. Out performance by one asset class or pair of asset classes usually has a habit of being short lived unless the other group join the party. Something to watch.

On the very short term. silver looks a little stretched here to me. A minor pull back to 33 or so would be healthy as would a bounce in correlating instruments.

Here the report: BullionWeeklyTechnicals27112012

Rich

 

 

 

 

 

 

 

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