Silver/Copper - Ratio Chart Analysis By Kedia Advisory
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SILVER/COPPER - Ratio ChartAnalysis
❖ As per the chart perspective (shown below), since 2019, the long term median premium of Silver/Copper resides at 115 (Highlighted by the black dotted horizontal line).
❖ Of particular interest in recent market behaviour :
● In the month of Sep 2018 year Ratio made a low of 82 (100.00% Fib. level) and consolidated between 82(100.00% Fibo level) to 96(78.60% Fibo level),after breaching 96 level in Sep 2019 ratio touched mean line,in Sep 2020 ratio also breached mean line and made a new high of 148.
● After making the high, the ratio line reversed downside and took support at 115(50.00% Fibo level) after long consolidating at the mean line, the ratio breached 200 MA and turned down sharply.
● Now it’s trying to touch 100.00% Fibo level,if its breach than ratio will be seen at 64 level in coming days otherwise it may take 100.00% Fibo level as a support , may pull back from there.
❖ Technical indicators such as Fisher, RSI indicate bearish view and Chop indicator indicate volatility will rise in coming days
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