Silver Could Send First Bullish Message In 9-Years, Says Joe Friday

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Silver has been much weaker than Gold for the past 9-years. Is that trend about to change? A short-term change is possible, says Joe Friday!

This chart compares the price of Silver to Gold over the past decade. At the 2011 highs, the ratio created a bearish reversal pattern at (1). Since creating that pattern, Silver has been much weaker than Gold.

Silver currently is 60% lower than its 2011 highs, while Gold is around 8% lower.

The ratio has created a series of lower highs and lower lows inside the falling channel (2). While testing the bottom of the channel a few weeks ago, the ratio created a bullish reversal pattern at (3).

Joe Friday Just The Facts Ma’am; The trend remains down at this time and a couple of weeks of positive action has not changed the trend. If the ratio breaks out at (4), it suggests that Silver could be stronger than Gold for the short-term, which historically is bullish for both metals!