GOLD/CRUDE OIL RATIO LOOKS EXTENDED IN THE SHORT TERM

GOLD/CRUDE OIL RATIO A BIT TOPPY?

The GOLD/CRUDE OIL ratio is looking somewhat extended in the short term and may need to drop back...after all it has risen by almost 20 per cent over the past two months. The daily chart above shows that the ratio would need to drop through 19.40 to violate its uptrend and if it takes out 18.85 it should go lower still...on the other hand if instead it should beat 20.18 it could keep rising.