A simple chart showing the silver-gold ratio (2nd panel) at the limit point it has reached during previous pullbacks. This fits well with HUI in the top panel as it drifts toward the SMA 50, which we have been noting is an important area to hold in keeping the trend up in the short-term.
Back on the silver-gold ratio, MACD looks just like it did in late May, when the sector ground around for a while before resolving upward. The grind lasted for about a month and resulted in a bullish pattern, which we noted at the time it was forming. RSI is now over sold to the degree of that period. It is time for the silver-gold ratio to find support if we are to resolve bullish again.
We’ll have more in NFTRH 409, but I wanted to get you the updated visual today.