We can see on the daily chart that momentum has remained mostly bearish since the July high, although prices have retested a prior level of support. A spinning top doji formed below the 50% retracement level and yesterday’s bearish close suggest momentum is starting to turn lower once more. Whilst the ratio remains below the resistance zone, we expect silver to outperform gold over the near-term (even if both underlying markets break lower as part of a correction). Given the reversal of risk sentiment, the current environment is less supportive of silver and gold. We’re therefor looking at a bearish ratio over the ... (full story)