Might add some optimism for the silver bulls. A break of the neckline would add more evidence of a bullish outlook for silver compared to gold. Always a good sign when the right shoulder is smaller than the left in a reversal pattern because it's more bearish, but we need to see 97.40ish neckline broken first. Target would be the 2025 support region around 87.70ish. The cycle guy I am following is looking for gold to correct back below the April 7th low of $2965 and preferably down to $2800 region. At $2800 gold, assuming the ratio hits the target area, then that would have silver trading where it is today. The ultra good news for silver if that was to occur is that the next intermediate bull cycle would have silver breaking $33 in the first week or so of a new cycle adding potential for silver to trade well into the $40's and potentially a lot higher.
ARD Price at posting:
2.1¢ Sentiment: Hold Disclosure: Not Held
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