The amount of scatter on that chart is so large that an alternative lower trendline could be drawn in a higher position above the minimum candles of 2011, 2018 and most of the candles of 2021-23 at the far R, thus showing a broken trend.
Gary March 3, 2023
Absolutely. Hence why trendlines are among the least useful things in TA (they all break sooner or later). But the trend itself – despite being super volatile – is not down. I could have actually drawn in a long-term lateral support area instead. So the title stands. The Au/Cu ratio has not broken down. Risk is on the side of copper and reward on the side of gold. So says this chart in a vacuum, at least. Other macro indicators are trying their best to offer contrary views.
B. Aristides March 4, 2023
OK Gary, point taken, I would agree that the overall trend seems to be at least not down.
The amount of scatter on that chart is so large that an alternative lower trendline could be drawn in a higher position above the minimum candles of 2011, 2018 and most of the candles of 2021-23 at the far R, thus showing a broken trend.
Absolutely. Hence why trendlines are among the least useful things in TA (they all break sooner or later). But the trend itself – despite being super volatile – is not down. I could have actually drawn in a long-term lateral support area instead. So the title stands. The Au/Cu ratio has not broken down. Risk is on the side of copper and reward on the side of gold. So says this chart in a vacuum, at least. Other macro indicators are trying their best to offer contrary views.
OK Gary, point taken, I would agree that the overall trend seems to be at least not down.