With the recent surge in precious metals, the gold/silver ratio breaks its uptrend. This is usually a good sign for both gold and silver. When silver is getting stronger against gold, fast, precious metals surge. With the downside breakout of the ratio, another one of these moves might follow. Of course, the fundamentals are not on the side of both silver and gold. But the weakening of the dollar from the upper line of its long-term trend channel (please check the monthly outlook for more details) is boosting the metals, at least for the short term.
For silver 22 was the main support of the post covid era. This level might become a major resistance to follow. And for gold, a flat zone between 1620 and 1720 support and resistance levels can appear. Over 1720 pricing might be a good sign for the gold bulls if it happens.
