Jordan Roy-Byrne - Techncial Commentary – Wed 19 Dec, 2018

The Environment Where Gold and The USD Move Up Together

Jordan Roy-Byrne, Founder of The Daily Gold joins me to look past the Fed meeting and first address the selloff in the US markets. We look back on how past bear markets have started and what we expect in terms of a lower high in the first half of 2019. Also the fact that gold has been moving up with the US dollar has us thinking 2019 could continue this trend.

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Jordan Roy-ByrneCory Fleck
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  1. On December 19, 2018 at 1:04 pm,
    spanky says:

    OK, GDX finally turning back down. The last couple of weeks action was to suck in new longs. I think we finally will test the 100 dma, potentially even sub $19 in the next couple of days. a sideways bounce from there and then a lower low in late January, hopefully no lower than $18.72. If that pivot breaks, and the $18.26 pivot subsequently breaks, it would not be good IMO. We’ll see. The silver miners could very easily make a lower low into late January.

  2. On December 19, 2018 at 1:25 pm,
    David says:

    Just another criminal display by the banks to continue the transfer of wealth by market manipulation. Nothing changes until the Regulators do their jobs and stop the criminal fines and put management in jail. Until then, the algos run free and corruption expands.

  3. On December 19, 2018 at 1:40 pm,
    OOTB Jerry says:

    regulators…….what is that…..pretend govt. for the sheeple….bankers are not going to be touched, that is a pipe dream.

    • On December 19, 2018 at 2:11 pm,
      David says:


        • On December 19, 2018 at 2:18 pm,
          OOTB Jerry says:

          The status quo has a simple fix for every crisis and systemic problem:

          1. create currency out of thin air

          2. give it to super-wealthy banks, financiers and corporations to boost their wealth and income.

          One way these entities increase their wealth and income is to lend this nearly free money to commoners at much higher rates of interest. I borrow from central banks at 1% and lend it to you at 4.5%, 7% or even 19% or more. What’s not to like?

  4. On December 19, 2018 at 1:42 pm,
    spanky says:

    AXU was up 6.6% today on heavy volume. For all I know it will be down 10% tomorrow, but I’ll take today’s action as big a positive. It is on the cusp of breaking above it’s Ichimoku cloud on the daily. The cynic in me thinks it will fail as GDX pulls back a bit further in the next week.

    I would honestly be a buyer of gpl and USAS on any further weakness in the next 1-2 weeks. I really can’t see them making an even lower low a month out from here, so I expect a long term buy and hold situation to present itself imminently in those two names.

  5. On December 19, 2018 at 7:54 pm,
    Matthew says:

    GDX priced in GLD reversed precisely at fork resistance and still looks ok. The action immediately following a Fed decision usually reverses and that will probably be the case this time.

  6. On December 19, 2018 at 7:56 pm,
    Matthew says:

    Looking at the daily chart heading into the Fed, it’s easy to see why the miners fell as much as they did. Short term, the move had already become somewhat extended…

  7. On December 19, 2018 at 7:59 pm,
    Matthew says:

    Whether it needs a little break here or not, gold still looks good overall…

    • On December 19, 2018 at 8:06 pm,
      Matthew says:
    • On December 19, 2018 at 8:20 pm,
      Matthew says:
      • On December 19, 2018 at 10:10 pm,
        Excelsior says:

        Nice that Gold took out the 600 week MA, and got darn close to the 600 week EMA.

        Longer-term constructive.

        • On December 19, 2018 at 11:23 pm,
          Matthew says:

          I probably didn’t put that chart together in the clearest way but it was the 233 week EMA that it almost touched. Yes, longer-term constructive!

  8. On December 19, 2018 at 8:26 pm,
    Matthew says:

    Stocks are oversold but still don’t look ready for a significant bounce…

  9. On December 19, 2018 at 11:02 pm,
    Excelsior says:

    2019: “Volatility And Chaos Will Be The Theme”

    Dec 19, 2018 – Brent Cook on Kitco

    “A mix of geopolitical and economic uncertainties will likely create the perfect storm for precious metals and miners next year, said Brent Cook of Exploration Insights.
    “Volatility and chaos will be the theme [next year]. We’ve got BREXIT, Italy, German politics, Saudi Arabia, U.S.-China tariffs, they’re arresting people in Canada, we’ve got an unstable narcissist in the White House that’s being backed into a corner capable of doing anything, bear market beginning, and I think the interest rates are going to be slowing,” Cook told Kitco News.
    Cook said that all these risks should bode well for gold and gold miners next year, with miners outperforming the bullion. ”