Gold charts…

April 15, 2019

Top chart is June Gold which is tracing out head and shoulders top; target 1226 if the neckline is broken.  It’s at the low of the year, not too surprising given dollar strength and an embrace of risk (again). 

What is somewhat odd is the longer term chart below, the gold/silver ratio overlaid with SPX since the year 2000.  The gold silver ratio is at a level associated with peak panic in financial markets.  Seems like the trade might be to sell gold/silver here, or maybe buy silver and sell stocks?? 

Posted on April 15, 2019 at 7:44 am by alexmanzara · Permalink
In: Eurodollar Options

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