Jordan Roy-Byrne - Techncial Commentary – Wed 10 Apr, 2019

Could Platinum be signaling a breakout in PMs?

Jordan Roy-Byrne, Founder and Editor of The Daily Gold shares his thoughts on Platinum’s move higher, Gold vs the miners, and what he is looking for in metals stocks. Platinum has historically lead gold at some major bottoms so if we continue to see some upward moves, and breaks above recent peaks the bullish argument could build some momentum. However on the metals stock side we are still seeing stocks move slowly. In no way bearish we might be in this trading range for a while longer.

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Comments:
  1. On April 10, 2019 at 2:00 pm,
    OOTB Jerry says:

    Jim Sinclair’s Commentary

    The latest from John Williams’ http://www.shadowstats.com

    – PENDING DOWNTURN IN ECONOMIC EXPECTATIONS
    – New Recession Should Be Timed from November/Fourth-Quarter 2018 Peak; Fourth-Quarter 2018 GDP Faces Still Further Downside Revision; First- and Second-Quarter 2019 Real GDP Quarterly Contractions Loom
    – Current, Positive Economic Expectations Should Drop Sharply, Following Heavily Negative Economic Releases, April 16th to 25th, Leading Into the Initial First-Quarter 2019 GDP Estimate on April 26th
    – Series Facing Near-Term Negative Catch-Up Reporting and/or Intensifying, Negative First-Quarter Trends Include: Retail Sales, Production, New Orders, Freight Activity, Home Sales, Construction and the Trade Deficit
    Thanks………….to………..jsmineset info

  2. On April 10, 2019 at 2:04 pm,
    OOTB Jerry says:

    US silver is screwed up……
    http://didthesystemcollapse.com/
    Shanghai……… $16.45………US. stuck on $15.

    • On April 10, 2019 at 2:23 pm,
      OOTB Jerry says:

      From jsmineset………..REPEAT…..
      April Silver’s delivery demands fell by one contract during yesterday’s trade. I watched the sale occur, priced at 15.26 (a buyer and seller agreed), yet Comex closed the April Contract at 15.168, a fake settling price at the exchange.

  3. On April 10, 2019 at 2:55 pm,
    Excelsior says:

    Fed Minutes: Most Say Outlook, Risks Warrant Leaving Rates Unchanged For The Remainder Of 2019
    – And other musings from March’s dovish surprise…

    By The Real Heisenberg – April 10, 2019

    https://heisenbergreport.com/2019/04/10/fed-minutes-most-say-outlook-risks-warrant-leaving-rates-unchanged-for-the-remainder-of-2019/

  4. On April 10, 2019 at 4:56 pm,
    Excelsior says:

    Don’t bet on Platinum miners boosting supply on price surge
    Bloomberg News | a day ago

    “The recent jump in platinum-group metals prices is boosting miners’ profits, but that doesn’t mean they are likely to increase supply anytime soon, according to the world’s No. 1 producer.”

    “Still, new supply will be limited. It takes five to seven years to open a new mine from scratch and there are other constraints to consider like processing capacity and the availability of water, the CEO said in an interview. While there are some expansion projects underway, that supply is already accounted for in market estimates”

    “Any new production will probably replace declines elsewhere, rather than expanding total supply, which is forecast to remain flat over the next decade”

    http://www.mining.com/web/dont-bet-platinum-miners-boosting-supply-price-surge/

  5. On April 10, 2019 at 6:59 pm,
    Charles says:

    Just bought some group10 metals last week. Looked ripe for the picking.

    • On April 10, 2019 at 11:55 pm,
      Excelsior says:

      Charles, you likely got positioned in a great spot and I wished I had more dry powder reserves, but I’m fully deployed at this point.

      Here is an interesting editorial and analysis on Group 10 Metals that may be of interest to those following the Platinum/Palladium/Nickel/Copper space:

      _______________________________

      Group Ten Metals Is Systematically Unveiling One Of The Most Compelling, Gigantic PGE-Ni-Cu Projects In Years – And It’s Right Under Your Nose.

      Mar. 4, 2019 – SvenGP

      “Group Ten Metals makes a compelling case of an analogy between the Bushveld District in South Africa, the world’s largest producer of platinum elements, and the Stillwater District in Montana.”

      “Both, Stillwater and Bushfeld, are well-known for their ultra high-grade Reefs, but unlike Stillwater Bushfeld has also seen the development of much larger, polymetallic and bulk mineable deposits.”

      “Group Ten believes that the Stillwater district hosts a similar potential. The role model for it’s new approach to exploring Stillwater is Ivanhoe’s discovery of the Platreef project.”

      https://seekingalpha.com/instablog/48701604-svengp/5277198-group-ten-metals-systematically-unveiling-one-compelling-gigantic-pge-ni-cu-projects-years-s

  6. On April 11, 2019 at 6:21 am,
    larry says:

    /GC daily TAS support is 1293.5…bearsish daily morningstar 3 candle formation thus far with volume so far behind it…dollar over 97 still…./GC 1284.9 break is an AB=CD down…we will see..

  7. On April 11, 2019 at 7:32 am,
    larry says:

    SPXS position start at 19.65

  8. On April 11, 2019 at 8:33 am,
    larry says:

    xlf, financials seems to be rolling over here before earnings tommorrow?….xlf is at top of monthly channel and has done a 70% retrace up from 9/18 high which was lower than the1/18 high….?distribution at highs?…we will see….lower rates say lower margins at our banking freinds lairs

  9. On April 11, 2019 at 10:25 am,
    larry says:

    /ES on the 2 hour hour chart put in a Triple top at the round number of 2900….Seems clear that some folks see that as resistance…but it was overnight trading with associated light volumns…..so as per usual, no clarity…but could be a logical place in retrospect to have pulled da market plug and some dinero off the old table…The 5 hour chart still has an AB=CD target up at 2929 which IS troubling if short but the daily chart has completed a 1.25 expansion up of its AB=CD up

  10. On April 11, 2019 at 10:32 am,
    larry says:

    /Gc daily slamming into daily support at 1239 with wide ranging bar and volume…This seems to indicate market believes the enemy is deflation rather than inflation…..thus far but the markets are a bit psycho!…lol

  11. On April 11, 2019 at 10:33 am,
    larry says:

    /GC…correction…1293 daily support….muti rasking!…so sorry

  12. On April 11, 2019 at 10:34 am,
    larry says:

    /ES the close will describe the big men on wall street postures……god luck to traders

  13. On April 11, 2019 at 10:43 am,
    larry says:

    /GC if watching the 2 minute chart you will be witnessing buyers trying to defend the support of 1293