Silver Futures Investor Report: Global Growth and Gold/Silver Ratio FED's rate cut signal was met with enthusiasm in global markets, and this was the catalyst of the rally in oil and copper, especially in gold. At the G-20 meeting, the prospect of a new agreement between the US and China has lowered concerns about global growth for a while. US Treasury Secretary Steve Mnuchin's announcement that the deal with China has been completed at a rate of 90% has led to the expectation that this time the trade negotiations will be concluded. - News later corrected as 90% agreed US Treasury Secretary Steve Mnuchin's announcement that the deal with China has been completed 90 % has led to the expectation that this time the trade negotiations will be concluded. - News later corrected as 90% agreed- Slowing down worries about growth expectations and weakening dollar supports the upward pricing for silver as a precious metal which has an industrial use. While copper and silver prices are important in terms of correlation with growth in the last period, silicon and silicate prices used in chip making have been followed up more closely as the technology reacts faster. Looking at the growth prospects for the future Forecasts for the US are gradually falling, We see that the situation is not very different for China. On the other hand, FED president Powell's "interest rate cuts should not "be overpriced" by the markets" and the FED Bullard's "50 bp interest rate cuts would be more than needed" statements led to the closure of oversold dollar positions. When we look at total Silver ETF positions, it is noteworthy that funds gradually increase their positions. Appearance at the bottom of the direction of rotation begins. If the concerns about global growth decline, the gap in gold - silver spreads, which widened considerably after the FED in June, may close rapidly. Technically: 13.60 stands out as the critical support on monthly charts. RSI, on the other hand, points to "oversold" and recovering from the bottoms Weekly Chart Price is above EMA 50. The huge triangle pattern is emerging. The pattern would be validated at 15.52. Daily Chart: Price is above EMA 50, SMA 100 and 200. The double bottom formation will be confirmed with a daily close above USD 16.20. Our long term silver trade will be: Long at 15.52 and add Long at 16.30. Targets: 17.25 18.15 and 20.00
