WTI/silver ratio breaking out to the upside.
Further disruptions to energy supply chains and the resulting economic downturn would be a scenario in which one would expect oil to outperform metals.
Silver retesting it's lows once again.
If oil soars and markets tank, silver will likely drop with everything else.
But how much pain do markets endure before the Fed prints to reinflate the bubble?
Probably not very much. I'll be buying any smackdown dip.
GSR Breaking out to the upside once again.
The peace deal that silver rallied on was predictably BS, and now if we get an escalation of the war with Iran, soaring oil prices could put renewed pressure on the precious metals.
Until something breaks (Probably not long) and the fed begins to print, of course.
Oil has regained all of today's losses that followed what should have been an obviously fake peace deal headline.
The Iran conflict is far from over, but we may be in a holding pattern of "escalation/fake peace deal" until after the US midterm elections.
Once those are done, all bets are off. $150 oil seems highly likely.
Gold to silver ratio back within the ascending triangle under 72.
Bullish development for the metals.
My main concern is that the catalyst for the move seems to be a peace deal headline.
Call me skeptical but we've seen how these play out before...
$XLE looking promising as it breaks to the upside from this ascending wedge. RSI is elevated but if we get a geopolitical catalyst over the weekend it could certainly go higher.
Higher volume accompanying the breakout would increase confidence.
not financial advice
Well there's your sharper drop in silver. Hard to say if bottom is in on a sharp drop like this, but silver is looking a bit oversold here.
Gold to silver ratio appears to be breaking out to the upside from this ascending triangle.
My read is that this is a false breakout. GSR already overextended on the RSI with both metals sitting at levels of significant support.
Snapback relief rally coming soon in gold & silver IMO. Not sure if the bottom is in, but the selling is getting overdone short term.














