Gold/Silver Ratio - A break of 63.87 to target 51.57

Date: 13th February,2017 by Timothy Straiton
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Current level is 68.62, trading below the falling 40 week moving average of 70.39. The 14 week relative strength index is currently at 42% and has shown negative divergence ever since the beginning of 2015. The real test for this commodity pair will be the important Fibonacci 38.2% retracement level of 63.87 measured from the high of 83.80 made im March 2016 to the low of 31.65 made in April 2011. This level was already tested in July 2016 and held initially, however a break will put focus on 51.57, being the Fibonacci 61.8% retracement level measured over the same range.

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.