Jordan Roy-Byrne - Technical Commentary on the Metals – Wed 13 Nov, 2019

Could we be setting up for an environment when gold stocks and US markets move up together?

Jordan Roy-Byrne and I discuss the importance of gold holding $1,450 over the past couple days even when US markets are at all time highs. We also recap the CoT reports where the speculators are still net long and have not unwound a significant number of those positions. The final comment on the potential of gold stocks and US markets to move up together is very important.

Click here to visit Jordan’s site to follow along with his gold and gold stock charts.

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Comments:
  1. On November 13, 2019 at 12:55 pm,
    b says:

    I bought at $1450, I thought it could hold there, if it comes down to $1400 I’ll buy there too.

    • On November 13, 2019 at 5:16 pm,
      Nigel says:

      I thought about buying at $1450 but my timings been off recently so I held off. if it dips below $1400 i dont think it will be there for long – very little downside and plenty of upside potential at that level. imho.

    • On November 14, 2019 at 10:09 am,
      SilverDollar says:

      FWIW, Gann is looking for $1474 as his buy point, negating a bear trap since most are looking for lower prices.

  2. On November 13, 2019 at 1:01 pm,
    Matthew says:

    Whether gold stocks and and U.S.markets move up together or not, gold stocks will continue to outperform.

    GDX priced in Dow:
    https://stockcharts.com/h-sc/ui?s=GDX%3ADIA&p=D&yr=1&mn=1&dy=0&id=p19652621762&a=699627862

  3. On November 13, 2019 at 1:28 pm,
    cfs says:

    Goldsource Announces Salbora High-Grade Expansion;
    80.0 Metres Grading 2.07 gpt Au
    57.5 Metres Grading 2.55 gpt Au
    76.5 Metres Grading 1.18 gpt Au
    VANCOUVER, BC – November 13, 2019

  4. On November 13, 2019 at 6:37 pm,
    cfs says:
  5. On November 13, 2019 at 10:52 pm,
    Rubber (@made_of_rubber - twitter) says:

    The gold chart is consolidating nicely. More importantly, the miners are getting ready to run and take a leadership position. Volume spikes on smaller term charts are telling. If you take a longer term look, and consider the 4 market phases overall, the charts are telling us to get into positions and are giving us a chance to do so. Nothing has changed big picture in the US markets besides rhetoric with some hopes and dreams. A beautiful cup & handle on the monthly as gold works to expand the bollinger bands.

    • On November 14, 2019 at 10:15 am,
      Matthew says:

      I agree. Gold looks great but I expect the miners to lead the next leg up and we’re already seeing some leadership from them.
      I don’t think gold will make any large moves higher until at least December but the miners will probably surprise a lot of people before then.

      Today’s high for gold so far happened near its “R2” Pivot (which is 1476.40). That level was never even touched in 2016 but gold spent 3 months above it this year. From many angles, gold is acting extremely well.
      https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=5&mn=11&dy=0&id=p28282514357&a=699861636

    • On November 14, 2019 at 5:24 pm,
      Excelsior says:

      Hey buddy – Good to see you posting here Made of Rubber, and agreed about the miners about to take a leadership position for the longer term.

  6. On November 13, 2019 at 11:27 pm,
    cfs says:

    OFF TOPIC
    https://youtu.be/GRdXzURYpxc?t=400

    Pedo-gate; some comments on lack of left-wing morality.

  7. On November 14, 2019 at 12:48 am,
    CFS says:
  8. On November 14, 2019 at 12:57 am,
    cfs says:
  9. On November 14, 2019 at 1:10 am,
    Excelsior says:

    Graddhy – Commodities TA+Cycles

    @graddhybpc – Nov 13, 2019

    $USA.TO $USAS Americas Silver:

    “Quality silver miner with magnificent big picture setup. Adding here that I realized that it actually has a red triangle flag plus a purple bull flag right on that 8 year perfect blue support line. That is extra bullish. Turnaround story going back a few years.”

    https://twitter.com/graddhybpc/status/1194721563200905218

    • On November 14, 2019 at 1:30 am,
      Excelsior says:

      Corporate Presentation: (USAS) (USA) Americas Gold and Silver Corporation

      Nov 12, 2019 – 121 Mining Investment New York Autumn 2019 #VIDEO

      https://www.youtube.com/watch?v=AElAP82yUbw

    • On November 14, 2019 at 11:03 am,
      Wolfster says:

      Well if their gold mine runs into no problems it should go but I’m not sold on the silver aspect even with Eric sprotts investment

      • On November 14, 2019 at 5:22 pm,
        Excelsior says:

        I’m sold on the Silver aspect, because I’ve been watching this stock for long time before US Silver and Gold combined with Scorpio Mining to form America Gold & Silver, and Galena just needed some TLC, which was slated for 2 years from now once they got Relief Canyon going, and then went down to keep working on Cosala in Mexico (which still has a huge amoun of Silver as well, but they’ve been focused more on Zinc/Lead down there the last 2 years).

        With Sprotts investment, it allowed them to move forward this work on Galena to the present day, and that will allow them to have 3 big areas Idaho, Nevada, and Sinaloa all expanding concurrently in 2020. They still have a lot of Silver at Galena but the whole process, the equipment, and the mining sequence needed a big makeover to bring the efficiencies up and the costs down, which it now is going to get.

        Now for pipeline they can either work on San Felipe, or sell it and takeover another project for 2021-2022.

  10. On November 14, 2019 at 1:22 am,
    Excelsior says:

    Precious Metals Video Update: Gold & Silver Stocks Building To 2020-2021

    Palisade Radio – Nov 13, 2019 #AudioInterview

    “The precious metals sector remains in a correction and Gold could test $1390. The gold and silver stocks continue to hold up very well and this is a good sign given their potential for huge upside over the next 12 to 18 months.”

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

  11. On November 14, 2019 at 7:49 am,
    larry says:

    If this is distribution at highs…The downside could be meaningful….5 days up here with no net change…It could just stay flat and consolidate for another leg up
    https://tos.mx/a5iAM4b

  12. On November 14, 2019 at 8:11 am,
    cfs says:

    Interesting bank accounting:

    https://www.epsilontheory.com/the-rake/

  13. On November 14, 2019 at 9:16 am,
    larry says:

    If gold closes above TAS profile plus oscillator unchange line we have a new leg up rather than counter-trend move in down leg…2 days over required to confirm new up leg…
    https://tos.mx/0c6g3o2

  14. On November 14, 2019 at 9:58 am,
    Matthew says:

    Brixton Metals Drills 37.78m of 1.17 g/t Au at the Outlaw Zone, Including 12.00m of 3.28 g/t Au and 3.00m of 9.06 g/t Au at its Thorn Project
    http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20191114:nGNX4RHgYB