Minimize

Welcome!

What Constitutes A Double Bottom For Silver and Other Factors Driving Metals

Cory
December 5, 2018

Jordan Roy-Byrne, Founder of The Daily Gold shares his thoughts on the set up in silver. He outlines what a double bottom looks like while considering the silver chart. We also discuss the general shift towards safe haven assets and the remaining strength in the USD.

Click download link to listen on this device: Download Show

Click here to visit Jordan’s site for more valuable metals commentary.

Discussion
27 Comments
    b
    Dec 05, 2018 05:53 AM

    Always enjoy hearing from Jordan.

    Dec 05, 2018 05:55 AM

    Gold & Stocks Could Be At Key Long Term Inflection Point

    by @Goldfinger on December 5, 2018

    “Could we have just witnessed the “Everything except gold bubble” bottom in the gold/S&P 500 ratio?”

    “The chart below courtesy of one of the best technicians out there, @Ty, sure indicates that gold and the S&P 500 could be at a major long term inflection point:”

    https://ceo.ca/@goldfinger/gold-stocks-could-be-at-key-long-term-inflection-point

    Dec 05, 2018 05:57 AM

    As far as what constitutes a double bottom….. It is when pricing double bottoms around the same level in a W-shaped formation. There is nothing more complex to it than that, and it is one of the more solid bottoming formations.

    https://www.bing.com/images/search?q=w-shaped+double+bottom+charts&FORM=HDRSC2

      Dec 05, 2018 05:29 PM

      With regard to whether Silver could be putting in a double-bottom, and Jordan’s comments that it doesn’t normally chop around in the middle, I’d agree to a point, but that isn’t always true either.

      >> For example, check out the Double-Bottom in Uranium pricing where after the first bottom in late 2016 the pricing spiked up and then trailed back down over a year, only to bottom again slightly above the same price in late 2017.

      http://schrts.co/oD6vRq

        Dec 05, 2018 05:31 PM

        Now, after looking at the Double-Bottom in Uranium linked above, check out the Silver chart over the last 3 years and it looks very similar in between the 2 bottoms:

        http://schrts.co/zR6wk7

          Dec 05, 2018 05:35 PM

          Silver still has to prove it has the juice to take off from here into Q1 2019, but for the last 5 years the precious metals have rallied from tax loss selling in mid December and into the Q1 Run in Jan/Feb.

          If that plays out from here then this move will have more than qualified as a Double bottom and the $13.62 from Dec 2015, and the $13.86 level from November 2018 would mark longer term support for quite some time afterwards.

            Dec 05, 2018 05:49 PM

            I find it curious, wacky, and illogical that so many different commentator are more bullish on Gold, but then more bearish on Silver.

            For thousands of years Gold & Silver as precious metals have tracked together, and that won’t be changing any time soon.

            Yes, Silver will dive down further than Gold on pullbacks, but it will also play catch up when Gold turns back up and then shoot past the yellow metal and outperform to the upside.

            If an investor is constructive on Gold heading higher in 2019, then by defalt they should also be bullish on Silver, and if the bull really gets going, then even more so in Silver.

            The commodity to watch is Gold, and if it starts breaking out, then Silver will follow and all the comments about inflationary pressures or the industrial components will cease to matter as the PMs will travel together.

            https://www.stockcharts.com/freecharts/perf.php?$SILVER,$GOLD&p=6&O=011000

    Gab
    Dec 05, 2018 05:15 PM
      Dec 06, 2018 06:03 PM

      Hi Gab – Nice Rounded bottom process in Gold for sure.

      Great chart (where ya been hiding out?) 🙂

    Dec 05, 2018 05:29 PM

    I do think we have a double bottom in silver. Silver may chop around for a few more days going into the FOMC, but post-FOMC I expect it to make a run to its 200 dma very quickly and to top in late December/very early January. It think it has a harsh 4 week decline thereafter into late January before putting in a higher low (perhaps we get as low as $14.40) and never looking back.

    CFS
    Dec 05, 2018 05:57 PM

    https://www.youtube.com/watch?v=13SzAcsVQUg

    Clif High discusses Crupto-manipulation and Q

      Dec 06, 2018 06:38 AM

      Mark this date/ time as a referral point in CH PROJECTIONS. IMAGINATION STIMULATION!

    CFS
    Dec 05, 2018 05:03 PM

    With Comey’s testimony delayed from today until Friday, this week in the stock market will be abnormal.
    https://thehill.com/hilltv/rising/419901-fbi-email-chain-may-provide-most-damning-evidence-of-fisa-abuses-yet

    CFS
    Dec 05, 2018 05:23 PM

    Dan Bongino thinks he understands, but he only partly understands.
    https://www.youtube.com/watch?v=QbQXnTOSg9E
    Clue to Dan: Obama is a Marxist traitor to the US.

    CFS
    Dec 05, 2018 05:51 PM

    David Steele says Ron Paul was right….

    Here’s some anti-Jew Political discussion, but also some good ideas.
    https://www.youtube.com/watch?v=46Qa6fAK1OI

    CFS
    Dec 05, 2018 05:43 PM

    2559
    Q !!mG7VJxZNCI ID: 8ef2d1 No.4171864 📁
    Dec 5 2018 18:00:21 (EST)
    RUSSIA = THE REAL CONSPIRACY.
    Define ‘PROJECTION’.
    What happens when they lose control and the TRUTH is exposed?
    What happens when PEOPLE no longer believe or listen to the FAKE NEWS CONTROLLED MEDIA, CONTROLLED HOLLYWOOD, CONTROLLED BLUE CHECKMARK TWIT SHILLS, ETC ETC???
    THE GREAT AWAKENING.
    SHEEP NO MORE.
    WE, THE PEOPLE.
    FOR GOD & COUNTRY – WE FIGHT!
    Q

    You can tell how much the military respected GHWBush by the wrinkles in the flag that draped the coffin!!!!

      Dec 06, 2018 06:49 AM

      in pressing……….info………..or did they just get taken to the cleaners………lol

      Dec 06, 2018 06:50 AM

      RIP Van “wrinkles”……in pressing info………or did they just realize they got taken to the cleaners……lol

      Dec 06, 2018 06:47 AM

      The Bush TRUST…….NO MORE………MSM is a TOTAL JOKE……..Morgan started the control media, 1913,,,, what a bunch of sucker the sheeple have been……..

    CFS
    Dec 05, 2018 05:07 PM

    Payseur Control:

    https://www.youtube.com/watch?v=bpDoQOMybHk

    Woo-Woo……?

      Dec 06, 2018 06:23 AM

      Thanks CFS, it sure connects some dots. Wow

      Dec 06, 2018 06:41 AM

      plus 2

        Dec 06, 2018 06:43 AM

        Glad I did not miss this one………..Great History Lesson……..jmo

          Dec 06, 2018 06:51 AM

          “Ruby Red Slippers”.. .from..Louie,… to Dorthy …exposing the truth….

    CFS
    Dec 06, 2018 06:20 AM