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Silver up 6% at $11.22
posted on
Jan 16, 2009 09:02AM
The gold/silver ratio chart has been signaling recently that silver is preparing to outperform gold going forward. This looks true today as gold is up only 2.37% compared to silver's 6% advance. It appears that not only is the ratio pulling back from overhead resistance represented by a flat and declining 50 day average line at about (78.5), but the ratio currently at (74.77) looks to be breaking lower out of a bearish rising wedge formation. This is all good for silver.
