Rick Ackerman’s Technical Forecasts – Wed 5 Feb, 2020

Oil and base metals are telling a very different story than the US markets

Rick Ackerman joins me today to share his thoughts on the strength in the US markets. We also look at the moves in oil and base metals which are telling a very differ story than the strong US markets. Finally a couple comments on the gold trade that Rick is currently in.

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Comments:
  1. On February 5, 2020 at 11:16 am,
    cfs says:

    Goldsource Mines drills 10.5 m of 9.94 g/t Au at Powis

    2020-02-05 09:28 ET – News Release
    Mr. Yannis Tsitos reports

    GOLDSOURCE ANNOUNCES NEW DISCOVERY AT POWIS TARGET: 10.5 METRES GRADING 9.94 GPT GOLD

    Goldsource Mines Inc. has released initial drill results from the Powis target, as well as historic drill results in this area. Powis is located approximately 1.6 kilometres south of the Salbora deposit (“Salbora”) and an estimated one kilometre west of the main Eagle Mountain Gold deposit (“Eagle Mountain”) in Guyana, South America. The seven drill holes, totalling 1,319 metres, in this news release have intersected a gold mineralized north-south trending structural corridor at the edge of a major induced polarization (“IP”) geophysical anomaly (sulphide-rich) 700 metres long and 60-80 metres wide, showing similarities to the Salbora discovery IP signature (see attached Figures).

    Yannis Tsitos, President, commented, “Since the discovery and delineation of the Salbora deposit, the Company been focused on comparing IP anomalies with historic exploration results to priorize our drill targets. This compilation has led us to the new discovery at Powis with a drill hole intercept of 10.5 metres grading 9.94 grams per tonne (gpt) gold (Au). Powis is 600 metres along strike from the Toucan Target (“Toucan”) with an historic adit grading 18.5 gpt gold over a 23 metre length (in-vein). Our goal during Q1, 2020 is to further expand on these initial positive results from the Powis and complete initial drilling at Toucan. By March, we will have 3 drill rigs operating at Eagle Mountain for both in-fill drilling of deposits and potential expansion of new discoveries.”

  2. On February 5, 2020 at 11:17 am,
    cfs says:

    Goldsource Mines drills 10.5 m of 9.94 g/t Au at Powis

    2020-02-05 09:28 ET – News Release
    Mr. Yannis Tsitos reports

    GOLDSOURCE ANNOUNCES NEW DISCOVERY AT POWIS TARGET: 10.5 METRES GRADING 9.94 GPT GOLD

    Goldsource Mines Inc. has released initial drill results from the Powis target, as well as historic drill results in this area. Powis is located approximately 1.6 kilometres south of the Salbora deposit (“Salbora”) and an estimated one kilometre west of the main Eagle Mountain Gold deposit (“Eagle Mountain”) in Guyana, South America. The seven drill holes, totalling 1,319 metres, in this news release have intersected a gold mineralized north-south trending structural corridor at the edge of a major induced polarization (“IP”) geophysical anomaly (sulphide-rich) 700 metres long and 60-80 metres wide, showing similarities to the Salbora discovery IP signature (see attached Figures).

    Yannis Tsitos, President, commented, “Since the discovery and delineation of the Salbora deposit, the Company been focused on comparing IP anomalies with historic exploration results to priorize our drill targets. This compilation has led us to the new discovery at Powis with a drill hole intercept of 10.5 metres grading 9.94 grams per tonne (gpt) gold (Au). Powis is 600 metres along strike from the Toucan Target (“Toucan”) with an historic adit grading 18.5 gpt gold over a 23 metre length (in-vein). Our goal during Q1, 2020 is to further expand on these initial positive results from the Powis and complete initial drilling at Toucan. By March, we will have 3 drill rigs operating at Eagle Mountain for both in-fill drilling of deposits and potential expansion of new discoveries.”

  3. On February 5, 2020 at 11:24 am,
    BDC says:

    Strong Trump = Weak Gold

    • On February 5, 2020 at 11:35 am,
      Matthew says:

      Is that why gold is still up 22% since he was elected? I have to laugh at those who sold or stopped buying because of him.

      • On February 5, 2020 at 11:46 am,
        CaliJoe says:

        Obscene level of money printing, some of that gotta go in to Gold too.

        • On February 5, 2020 at 11:56 am,
          Matthew says:

          Especially when prospects elsewhere don’t look very good.

    • On February 5, 2020 at 11:55 am,
      Matthew says:

      Presidents deserve virtually no credit for stock market performance but for those who think they do, it is funny that the Dow went up 100% versus gold under Obama but is only up 14% under Trump. Yes, that’s 8 years versus 3 years but I’d bet a lot of money that the Trump years won’t come close at the end of two terms.

      • On February 5, 2020 at 1:48 pm,
        BDC says:

        Hypothesis: Democrat collapse = defacto Trump victory.
        Trump 2016 victory paralleled November-December 2016 GLD decline of 16.6%.
        Same % decline from recent high (149.68) gives target of 128.37.
        In addition, a 50% retracement using the 2016 low (107.00) is 128.34.
        The odds favor a significant decline.

        • On February 5, 2020 at 3:14 pm,
          Matthew says:

          The odds currently do favor a decline but I don’t think it favors one nearly as significant as you think. The technical picture is far better now if you include the monthly, quarterly and yearly charts in your analysis. They depict power and strength that was absent in 2016. Even the weekly chart is much less conducive to such a decline when compared to November 2016…
          https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=5&mn=0&dy=0&id=p77527898772&a=718768873

          In your favor, maybe the miners haven’t confirmed gold’s breakout for a very good reason (but I doubt it).

          • On February 5, 2020 at 4:13 pm,
            BDC says:

            First downside target is approximately GLD 139, which is determined by a trend line drawn on the weekly from 2015 low (officially 100.23) to November 2019 lows (136.19 and 136.58). It shows an ‘elongated’ A-B-C base line where A is 2015 low, B is September 2019 high, and C is November low. (‘Crow Lines’ can be used with new highs, e.g. D in January.)
            If the 139 area is breached the lower target is more likely.

  4. On February 5, 2020 at 11:27 am,
    cfs says:

    Look at the components of GDX and GDXJ. I don’t believe they are a good proxy any more.

    Calibre drills 5.1 m of 18.65 g/t Au at El Limon

    2020-02-04 07:06 ET – News Release
    Mr. Russell Ball reports

    CALIBRE MINING ANNOUNCES INITIAL DRILL RESULTS FROM EL LIMON, INCLUDING 18.65 G/T GOLD OVER 5.1 METRES

    Calibre Mining Corp. has released initial results from the fourth quarter 2019 drilling program at El Limon. The drilling was successful in expanding gold mineralization along the El Limon vein system, with high-grade intercepts returned from extensions below the current Limon Norte deposit. A total of five drill holes were completed during the fourth quarter: four targeting the downdip extensions at Limon Norte and one infill hole at Santa Pancha to assist with mine planning and engineering efforts.

    Highlighted drill results include:
    Limon Norte:
    11.85 grams per tonne gold over 5.1-metre estimated true width (ETW) from 209.4 m depth in hole LIM19-4417;
    18.65 g/t Au over 5.1 m ETW from 197.1 m depth in hole LIM19-4418;
    4.13 g/t Au over 20.3 m ETW from 248.4 m depth in hole LIM19-4420.
    Russell Ball, chief executive officer, stated: “A nice start to our exploration program at El Limon. We ramped up the program significantly in January and I am confident that our 2020 drilling campaign will deliver positive results in this world-class, low sulphidation epithermal district. I look forward to providing regular updates on our progress at El Limon as the year unfolds.”

  5. On February 5, 2020 at 12:37 pm,
    markedtofuture says:

    Rudy W. Giuliani Common Sense Ep. 4 The Trial: The Biden Family Crimes Conclusively Proved | SWORN AFFIDAVIT

    https://www.youtube.com/watch?v=70k5ZNAkeWs

  6. On February 5, 2020 at 12:40 pm,
    cfs says:
    • On February 5, 2020 at 4:06 pm,
      OOTB Jerry says:

      PELOSI………..joke is on her…………

  7. On February 5, 2020 at 1:54 pm,
    james says:

    Don’t run GUY’s ! LOOK the Holl clip ! https://www.bitchute.com/video/ZqZnI_sNDO8/

  8. On February 5, 2020 at 6:06 pm,
    RICHARD/DOC says:

    I will be VERY surprised if GDX hits Ricks’s target of 30.5 in 2 weeks. Gold could well move lower for a little bit before it reverses and moves higher again.

    • On February 5, 2020 at 8:14 pm,
      Buzz says:

      Ole! 4 more years! Trump the 2 Budda Bros thinkin they gonna upsurp the WHITE HOUSE. Oh, wait, now we need to paint it black??