{"id":20702,"date":"2011-04-19T02:54:48","date_gmt":"2011-04-19T06:54:48","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=20702"},"modified":"2011-04-19T02:54:48","modified_gmt":"2011-04-19T06:54:48","slug":"silver-joins-gold-to-superstardom","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/04\/19\/silver-joins-gold-to-superstardom\/","title":{"rendered":"Silver Joins Gold To Superstardom"},"content":{"rendered":"<p><a href=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/04\/silver-XAGUSD-April-13-2011.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-8662 size-medium\" title=\"silver XAGUSD April 13, 2011\" src=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/04\/silver-XAGUSD-April-13-2011-300x170.png\" alt=\"silver, XAGUSD, gold, XAUUSD, commodities market, commodities trading, commodity, metals, inverted head and shoulders continuation, ron acoba\" width=\"300\" height=\"170\" \/><\/a><\/p>\n<p>Who  says silver is cheap?! Silver or XAGUSD in the trading arena is in fact  trading at its all-time high along the much coveted gold or XAUUSD. So  don&rsquo;t get left behind&hellip; catch the silver express when it takes a halt!&nbsp;<\/p>\n<p>Just recently, silver has managed to mark a new all-time high at just  below $42.00 per ounce. While many people would think that it is  already bound for a fall since given its tremendous run-up, technical  signals of gold (yes gold!) suggest otherwise. What&rsquo;s interesting in how  the price of silver behave is that it has a very strong correlation  with the price of gold. This means that, whenever the price of gold  rises, silver generally goes up as well. In the same way, the price of  silver dips in most times whenever gold falls also. This positive  relation between silver and gold can be seen in the chart above.<\/p>\n<p>Now, gold has just broken above an inverted head and shoulders  continuation pattern. Given this, we can determine its potential upside  by projecting the height of the pattern from the point of breakout at  around $1,650.00. So given the positive correlation between the two and  the likelihood that gold could hit $1,650.00, it&rsquo;s therefore likely that  silver would rise further and even mark a new all-time high. In the  meantime, both silver and gold could retrace a bit given their  overbought conditions. Hence, any retracement, in my view, would be a  good opportunity to go long at a better price.<\/p>\n<p>Caveat. <\/p>\n<p>More on <a href=\"http:\/\/www.laidtrades.com\/\">LaidTrades.com<\/a> &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Who says silver is cheap?! Silver or XAGUSD in the trading arena is in fact trading at its all-time high along the much coveted gold or XAUUSD. So don&rsquo;t get left behind&hellip; catch the silver express when it takes a halt!&nbsp; Just recently, silver has managed to mark a new all-time high at just below &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/04\/19\/silver-joins-gold-to-superstardom\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Silver Joins Gold To Superstardom&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-20702","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=20702"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20702\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=20702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=20702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=20702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}