NFTRH Update, Precious Metals

Well I am back already… :-) with a couple different views within the precious metals complex today.  First, I added some Fib retrace lines to the 5 minute chart shown earlier.  The 62% Fib off of the ‘take a poke’ buy zone only adds emphasis to the shaded support area.

hui

Also, the silver-gold ratio flashed a positive divergence as gold and the HUI dove right before a strong rally for the entire precious metals complex in early August (as noted by the yellow shaded area).

sgr.hui
Silver-Gold ratio & HUI, daily

The silver-gold ratio is positive today and a potential divergence to the bearish sector activity.

Just a couple things to keep an eye on.

Gary

NFTRH.com