Silver returns to primary uptrend | 06 November, 2020


Silver Price Forecast relative to
Long Term Monthly (LT-M) – Medium Term Weekly (MT-W) – Short Term Daily (ST-D) – and Hourly (not shown) data.

SILVER FORECAST

(Previous week in brackets)

Silver/USD LT-M MT-W ST-D
25.57 (23.59)
Trend ↓ (↓) ↓ (↓) ↑ (↓)
% Risk
Weight
70 (76) 42 (45) 72 (27)
PM Distribution
Total allocation 50% (50%)
Ag:45% Au:35% Pt:20%

Silver/USD live price


06 November:: Silver followed the same advance pattern as Gold and never showed a medium term or Long term overbought condition when it reached the 30 handle back in August. Even though this market can be very tough and volatile at times we confidently stay with the primary trend that can be expected to first develop bearish (lower risk to higher price) divergence in both Medium term and Long term time frames. And that first intermediary potential price top looks to be a long way into the future of the present cycle. No Change.

31 October:: Horizontal support, as indicated a few weeks back stays at 21.15. Silver, as usual, show more volatility in any direction and following gold lost an extra 2 1/2% last week as world equity markets continued to soften. Whilst Equity markets continue to look weak longer term, silver will find its next bottom sometime soon. No Change.


GOLD/SILVER Ratio Price Risk Analysis

(Previous week in brackets)

GOLD/SILVER Ratio LT-M MT-W ST-D
75.93 (79.19)
Trend ↑ (↓) ↑ (↑) ↓ (↓)
% Risk
Weight
15 (13) 42 (39) 27 (65)
PM Distribution
Total allocation 50% (50%)
Ag:45% Au:35% Pt:20%

Gold/Silver Ratio live price


06 November:: The Gold/Silver ratio comment made last week still applies. We cannot exclude a final intermdiary blow off top nearer 87.00 which would potentially drive strong bearish divergence between Weekly and Monthly risk weight. As Monthly risk is turning up in this first November week we may need more patience to reach our Gold/Silver equilibrium objectives of 60/65 and 30-40. The 200 month Moving average, which has held since 2013 is now at 65.85. and close to 2 year horizontal support at 64.33. These will be levels to watch once we reach them. No change.

31 October:: Risk weight still appears in a corrective mode with overhead resistance at 86.35. The Gold/Silver ratio remains difficult to predict in any time frame but short and longer term tools are still showing risk pressure to the downside. This makes our intermediate equilibrium objective of sub 65 still the safer bet. No Change.



What if a PE ratio hits ONE THOUSAND | Eye for Gold

What if a PE ratio hits ONE THOUSAND | 20 November close

S&P 500 Weekly Standard & Poor’s 500 Price ...
Read More

Gold Silver ratio still expected lower | Eye For Gold

Gold Silver ratio still expected lower

Silver Price Forecast relative to
Long Term Monthly (LT-M) – Medium Term ...
Read More

Gold is building strength in consolidation-2 | EyeforGold

Gold is building strength in consolidation-2 | 20 November, 2020


Gold Price Forecast relative to
Long Term ...
Read More

Platinum price forecast | Platinum: strongest precious metal

Platinum price forecast | Platinum: strongest precious metal | 20 NOVEMBER


Platinum Price Forecast relative to Long ...
Read More

16 November 2020 | Currency update | USDollar looks weak(er)

16 November 2020 | Currency update | USDollar looks weak(er) technically

covering USD Index, EUR/USD, GBP/USD, USD/JPY, GBP/EUR

...
Read More

S&P-Oil-Crypto | Some asset classes are becoming irrational! | 13 November close

S&P-Oil-Crypto | Some asset classes are becoming irrational! | 13 November close

S&P 500 Weekly Standard & Poor’s 500 Price ...
Read More

Platinum price forecast | 13 NOVEMBER | Platinum performs better than Gold and Silver

Platinum price forecast | 13 NOVEMBER | Platinum performs better than Gold and Silver


Platinum Price Forecast ...
Read More

Silver/USD | 13 November, 2020 | Silver reflects strong PM space

Silver reflects the stronger Precious Metals space | 13 November, 2020

Silver Price Forecast relative to
Long Term ...
Read More

Posted in A - All Financial Blogs | 2020 Forecast, SILVER FORECAST 2020 | EYEFORGOLD.

Leave a Reply