Loading ...XAU to Gold and XGD to gold ratio for Dave
After this consolidation is complete the ratio will be expected to move higher. Note a consolidation right below the major resistance line is positive for a breakout in the direction. (Classic Rambus Chartology)
It looks to me like the backtest in first chart failed badly and actually the breakout is lower implying miners are going to underperform.
Thanks bikoo!! The first chart doesnt look as bullish as it did in early February, that’s for sure
First chart is back testing the breakout.after meeting the wolfwave target line. Higher degree period is what needs to focus here.