Gold/silver ratio completing Inv H&S; it is saying a lot

2022년 4월 26일

In this weekly chart, 67 to 81 have been an impt range for multi-year consolidations (see the 2014 4-year consolidation box & the recent 2020 & on-going Inv H&S. Pattern). When price is rejected by 81, silver rallies more. When price bounces from 67, gold rallies more.
Starting 2021, the ratio has formed an upchannel from the bottom of the head. This channel has led to the formation of the RS. For the H&S to remain valid, price must not break below the lower channel. (Maybe just a small beartrap is ok).
Also we can see that since 2020, price attempted several times but failed to breakout of this neckline at 81. The same is true for 2014 to 2018 conso box.
If it again fails this week to BO the neckline (more probable coz both gold & silver are retracing), price may go down to retest the lower side of a BIG blue upchannel started since 2009 top to 2011 bottom.
Notice that the H&S pattern has been whipsawing using this lower channel as pivot. Thus this time price may retrace down again to this pivot somewhere near 74 before another rally to BO neck.
An Inv H&S BO would mean that finally, after multi-year consolidation, gold & silver are both ready to break much much higher.
Not trading advice