Jordan Roy-Byrne - Technical Commentary on the Metals – Wed 16 Dec, 2020
Ignore the Fed and Political news and focus on these factors to foretell moves in the precious metals
Jordan Roy-Byrne joins me to share his thoughts on using the Fed and news events to dictate your investments in precious metals. We also discuss the cross currents that are truly the drivers for gold and gold stocks.
Click here to visit Jordan’s site and keep up to date on his outlook for the metals.
Comments:
Nigel says:
How can the market be a discounting mechanism when prices are not driven by fundamentals anymore but by unlimited government intervention ?
b says:
On my screen, lion 1,brixton,novo,o3,irving are all down.
ipt and mandalay are up and santa cruz, which I dont own are all up.
Novo I can sorta understand as china is putting a kibosh on australian resources, otherwise, is it producers increasing?
David says:
Tomorrow. They alternate days. That will probably end when the Senate passes a stimulus.
Terry Huebert says:
China is not the problem, Novo is the problem. Get out of it, try something else like MZZ, STN.
Mike in Albuquerque says:
Kirkland is dumping all of its holdings in Novo to raise cash for other actions so naturally the price is depressed. Personally I may buy more now.
China has nothing to do with it –
Matthew says:
I’ve never owned Novo but it looks very tempting right now. It is sitting on a Schiff pitchfork support with positive divergences and has modified Schiff fork support around its April 8th close of 1.88 (a move to 1.88 would fill a little gap that most wouldn’t recognize as a gap because they don’t measure them from the close)…
https://stockcharts.com/h-sc/ui?s=NVO.V&p=D&yr=1&mn=3&dy=0&id=p04340053480&a=857382120
Dan, calgary says:
I agree, I took a bit of profits but will be back in right away on Santa Cruz and have accumulated Brixton. I’ll be rotating out of gold and more into silver stuff too but Brixton is trying to cash in on the copper play.
http://brixtonmetals.com/brixton-metals-significantly-increases-the-number-of-cu-au-targets-at-its-thorn-project-81-rock-samples-return-over-1-g-t-au-and-68-rock-samples-return-over-1-cu/
Terry Huebert says:
Yamaha(YRI) has a lot of silver credits so that’s one way to get silver into the mix. Personally, I don’t care for the silver miners. Also I trade options on SLV rather than own those scruffy silver miners.
Matthew says:
I love those scruffy little suckers and they look great right now. The next hard down day is a strong buy in my book.
https://stockcharts.com/h-sc/ui?s=SILJ&p=60&yr=0&mn=1&dy=18&id=p94461474899
chris says:
Very nice volume on PAAS, AG & HL on this up day.
Matthew says:
Check out CDE:
https://stockcharts.com/h-sc/ui?s=CDE&p=D&yr=1&mn=7&dy=0&id=p48026482919&a=754226895
chris says:
Thanks, own some of that also.
Dick Tracy says:
Santa Clause Mining, I mean Santa Cruz is up 21%, TSX.V SCZ! LOL! DT
Dick Tracy says:
Silver is leading gold, soon the silver to gold ratio will be sixty to one and that implies a near term value of more than $30 an ounce. In this environment you should think long term but be prepared to trade short term. That implies moving in and out of certain selective stocks but keeping others that have the right stuff. YEAH, BABY! DT
Dan, calgary says:
My ‘agree’ above was for your comment here about the Au/Ag ratio.
aghead says:
Abraplata finally broke July’s high. Aftermath screaming also.
Ozibatla says:
The US $ just gave up the 90 handle, at least momentarily. Will be interested to see what happens here for the rest of the week
Ozibatla says:
Also bitcoin is killing it with new highs. Look for new and continued money to push it further as the year draws to a close. This is also a contributing somewhat in the muted moves in the PMs space as it is stealing investor interest.
Matthew says:
I think the technical term for the big picture outlook is fugly.
https://stockcharts.com/h-sc/ui?s=UUP&p=W&yr=5&mn=0&dy=0&id=p72650563576&a=857390629
Matthew says:
https://stockcharts.com/h-sc/ui?s=%24USD&p=W&yr=6&mn=5&dy=0&id=p92060234470&a=818135567
Matthew says:
It could bounce very soon but I have a feeling it will slide down to 88 before making an intermediate low.
https://stockcharts.com/h-sc/ui?s=%24USD&p=W&yr=6&mn=0&dy=0&id=p59264487107&a=787551484
Matthew says:
The much more important/powerful quarterly chart looks so bad that it could fall further and faster than most of us expects, especially if it closes this quarter below 89.81
If you can view a quarterly chart, here’s one:
https://stockcharts.com/h-sc/ui?s=%24USD&p=Q&yr=30&mn=11&dy=0&id=p46323756805&a=776172130
Matthew says:
And another:
https://stockcharts.com/h-sc/ui?s=%24USD&p=Q&yr=45&mn=0&dy=0&id=p64437145126&a=801775333
Matthew says:
And one more:
https://stockcharts.com/h-sc/ui?s=%24USD&p=Q&yr=40&mn=11&dy=30&id=p32291428965&a=668917420
Matthew says:
There’s real crash potential in my opinion.
Sorry non-subscribers, this monthly look is also not viewable:
https://stockcharts.com/h-sc/ui?s=%24USD&p=M&yr=12&mn=0&dy=0&id=p44165889939&a=769092646
Matthew says:
GDX looks good and has once again taken back its 200 day MAs…
https://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=1&mn=0&dy=0&id=p47537422035&a=736819371
Matthew says:
Important fork support held and FNV looks ready to move up…
https://stockcharts.com/h-sc/ui?s=FNV&p=W&yr=5&mn=6&dy=0&id=p21428217704&a=739324969
Matthew says:
Looks like a major low for GDX vs DIA:
https://stockcharts.com/h-sc/ui?s=GDX%3ADIA&p=W&yr=5&mn=3&dy=0&id=p96739126543&a=725999919
Ozibatla says:
Cheers for all the chart links Matthew. Yeh if the dollar continues down into Fridays close, Im looking for the 87 region next week and then a bounce back above 90 from there.
Regarding PMs, hopefully the miners can eek out some solid gains into years end and this will of course flow into the physical. So long as bitcoin doesnt take off and steal more investor interest.
BDC says:
Gold: https://postimg.cc/yDXmTmmv
Raised 27.2% Fibonacci Boundaries.
Friday begins swing trade timing top.
BDC says:
(The timing model is based upon miners.)
Matthew says:
Priced in real money, Hecla just made a new 3 year high.
https://stockcharts.com/h-sc/ui?s=HL%3AGLD&p=D&yr=1&mn=5&dy=0&id=p64007546469&a=857421585
Matthew says:
SILJ:GLD also just made a new high. This picture is extremely bullish:
https://stockcharts.com/h-sc/ui?s=SILJ%3AGLD&p=D&yr=1&mn=7&dy=0&id=p57239317018&a=857536387