Jordan Roy-Byrne – 3 Signals That Would Confirm A Bullish Breakout In Gold Unlocking The Bullish Resolution Of The Cup & Handle Pattern

Shad Marquitz
February 23, 2022

Jordan Roy-Byrne, Founder and Editor of The Daily Gold, joins us to outline 3 signals he is watching for to confirm the bullish breakout in Gold, and that the longer-term cup and handle chart pattern is starting to resolve to the upside.

    • A monthly close above $1900
    • Gold outperforming versus foreign currencies
    • A GDX breadth thrust on the advance/decline line showing greater participation


We unpack each of these factors that Jordan is watching for confirmation, and also discuss near-term resistance levels that could impede that break out.   We review why this recent move above $1900 is much more encouraging than the move in May of 2021, due to the time that has gone by to stabilize the current pricing levels, the higher inflation, Fed policy implementation, slowing growth estimates, and weakening general equities markets, all leading to an environment of stagflation.


Next we unpack the very bullish nature of the cup and handle target with a measured upside move to $3,000 gold, and then a further percentage move up to the $3700-$4100 level, in the next 2 to 2 ½ years after Gold confirms the monthly close above $1900.   We note that while the gold stocks have lagged, that recently GDX is above the 200 day moving average has been outperforming the general US equities, which are both constructive.  We wrap up by getting Jordan’s technical and fundamental thoughts on Silver, and that while it has not received the same bid that Gold has, that when the yellow metal confirms the bull market move is on, that Silver will play catch up and is compelling to start reviewing when we see gold lead things higher.

Click here to visit The Daily Gold website and keep up to date on Jordan’s technical outlook.

    Feb 23, 2022 23:24 PM

    Gold Chartbook: Bullish Momentum Remains Strong

    Florian Grummes – Seeking Alpha – Feb. 22, 2022

    Over the last seven months, gold has once again done everything to disguise its true intentions.
    But finally, gold has been successfully breaking out of its multi-month triangle and keeps sprinting higher.

    It is worth mentioning that given the uncertain and complex geopolitical situation, events can and likely will strongly influence gold over the coming days and weeks.

    Now that gold is on the rise, it’s time for the beaten down and undervalued mining stocks to catch up.
    Overall, gold continues to look promising here as the bullish momentum remains strong.

      Feb 23, 2022 23:28 PM

      Thanks for your comments Ex.
      Regarding ” it’s time for the beaten down and undervalued mining stocks to catch up”… what tickers do you have in mind? Small caps or something like CDE?

        Feb 24, 2022 24:05 AM

        Hi there Canuckski. Those were Florian Grummes words about “it’s time for the beaten down and undervalued mining stocks to catch up.”

        I’d submit that if Gold is in fact going to hold the $1900 level on the monthly close, (and preferably above that key $1920-$1921 resistance), then it will be time for the beaten down mining stocks to catch up. As to which ones will play catch up….. it will be most of them…. as the whole sector is on the clearance rack. I think we’ll continue to see the producers move first, and then the really beat up developers will move next, and then finally the explorers will come to life.

    Feb 23, 2022 23:26 PM

    A Strong Finish to 2021 as (CXB) (CXBMF) Calibre Exceeds the High-End of Gold Production Guidance With 182,755 Ounces and Closes Fiore Deal to Expand into Nevada

    Feb 23, 2022

    Feb 23, 2022 23:57 PM

    We all know that The European economies are weak but that has a negative effect and that doesn’t benefit foreign trade. European economies are having difficulty with The Euro, but lowering money rates has not stabilized the Euro. It is a basket case.

    There has been a hope that lowering the money rates might stimulate The American and European economies but it also stimulates the stock market. It is all together to easy to see a time of reckoning ahead. The banks got involved and encouraged credit expansion. Intermediate declines in the stock market could possibly develop into a movement that forecasts business depression.

    What on earth is happening? Business is bad, credit is inflated, and the conventional stock price is inflated, what will happen if all these lunatics who insisted on buying at advanced prices tried to sell at the same moment. DT

    Feb 23, 2022 23:19 PM

    Like to see you interview Doc to see if he still thinks gold will sell off by end March or has this Russia invasion change timing?

      Feb 24, 2022 24:06 AM

      We actually interviewed Doc today, and I believe Cory may post it tomorrow, but the interview will be featured on the upcoming weekend show.

        Feb 24, 2022 24:15 AM

        By the WEEKEND………..a lot is going to happen……… Freaky Friday tomorrow……. lol…………

          Feb 24, 2022 24:25 AM

          By the weekend I’m going to want to get out in nature for a while and away from the noise of humanity.

            Feb 24, 2022 24:01 AM

            Ex………great thought……… yes, enjoy the peace of the great outdoors…… 🙂

            Feb 24, 2022 24:42 AM

            The Great Outdoors (1988) Official Trailer – Dan Akroyd, John Candy


            Feb 24, 2022 24:21 AM

            I forgot all about that movie…… that was a funny one…..

    Feb 23, 2022 23:38 PM

    Today my stocks saw a lot of green shoots, after this terrible winter it has uplifted my spirits. This could very well be the beginning of The Precious Metal Bull! The Federal Reserve has a new policy, it is business as usual, when will we see something different, it won’t happen until there is a crash that sees The Big Bull Market on its last legs. I’m sure The Federal Reserve sees a panic brewing, they should they created it, but they are powerless to stop it. DT

      Feb 24, 2022 24:07 AM

      Agreed DT – Very nice to see some green on the screen today in the mining stocks.

    Feb 23, 2022 23:02 PM

    Going to bed with gold moving towards $1930 and silver getting closer to $25……..let’s see what the morning brings us…🤞

    Feb 23, 2022 23:35 PM

    The morning brings war. Buy the dip? DOW futures down 763

      Feb 24, 2022 24:22 AM

      I don’t know about buying the dip yet, but I sure wish I’d have shorted the general equities a few weeks back.

        Feb 24, 2022 24:49 AM

        I’ve held SRTY since you mentioned you were in it a year ago. Bought the dip on that, starting to perform????

          Feb 24, 2022 24:13 AM

          Yep, I was just in it for a swing trade but unfortunately cleared out all my short positions in January, thinking we’d see a bounce that I was going to reshort. We did, but it was more short-lived than expected before the markets rolled back over again in February.

    Feb 23, 2022 23:41 PM

    Guess it’s time for Blinkin-Biden to lay down heavy artillery fire with ….. SANCTIONS


      Feb 24, 2022 24:20 AM

      Yeah, if that trendline breaks it will get ugly for Bitcoin. A few different technicians have noted they felt $20,000 seemed like a reasonable level to retest (since the old high from a few years back was $19,000 and then after that pullback down to $3,000 it was really around $20,000 where the next impulsive leg up got some wind in it’s sails. I could see a retest down to that breakout level at $19K-$20K being a probable target.

        Feb 24, 2022 24:12 AM

        Good target………. would be .25cents………….. lol

          Feb 24, 2022 24:15 AM

          Haha! That could be one day OOTB.

    Feb 23, 2022 23:52 PM
    Feb 24, 2022 24:36 AM

    Peter Goodburn: Silver is Going to Drastically Outperform Gold

    Palisades Radio – Feb 22, 2022

    “Peter gives us his thoughts on the coming commodity supercycle and why the dollar will be a significant factor. He takes a good look at the oil and copper charts.”

    “Inflation will head higher after a lull and that will help propel commodities higher. Further weakness is coming for the dollar which will also drive inflation.”

    “He shows an interesting chart for Newmont Goldcorp and where he expects the miners to move. Silver will likely make new record highs. He believes that silver will begin to outperform gold.”

    Feb 24, 2022 24:24 AM

    Finally some “paper prices” of metals and oil that reflect the Fundamental situation. Haven’t seen these since JPM got control of the silver market. Let’s see how the algos handle some real futures prices for the miners.
    Makes me think central Bankers are hiding somewhere without their computers turned on.(7:25 AM EST)

    Feb 24, 2022 24:39 AM

    News: Emerita named to Top 50 TSX Venture list for 2022.

    Feb 24, 2022 24:43 AM

    News: Emerita named to Top 10 Mining List on the TSX Venture Top 50 for 2022 (suspected duplicate)

      Feb 24, 2022 24:46 AM

      Emerita actually #1 of top 10 but pricewise matters not. Just makes it more of a target.

    Feb 24, 2022 24:00 AM

    Russians have started the bombing!

    The charts all along said something was happening repeatedly we mentioned in here that we were headed higher and that feb, March and April will produce higher highs in this intermediate rise

    Feb would produce fireworks Glen said! 🔥 here we are nothing changes accept possibly the prices at the candy store 🙂

    Doc have you changed your views yet? We going up up and away now the miners need to show life to confirm 🙂

    Best of luck to all


      Feb 24, 2022 24:11 AM

      Going to be an interesting day…………… one of the biggest one day moves for a long time…..

        Feb 24, 2022 24:21 AM

        We will se that Jerry. The satanists have just turned on their computers. Lots of time to kick gold back in the teeth.

          Feb 24, 2022 24:23 AM

          Yes…….. I agree…………

          Feb 24, 2022 24:57 AM

          Norrareal….. .just after we posted…. …… Gold dropped like a rock…… LONDON FIX,…. lol….. you can always count on satanist…

      Feb 24, 2022 24:23 AM

      How wrong you are Glen. You have just experienced the wrath of the satanist, gold down almost 60$ in two hours. They can always drive the price in whichever direction they want. Charts are useless.

        Feb 24, 2022 24:17 AM


        I don’t short term trade, secondly if you knew anything about charts and resistance levels we have broken some major ones lately and you haven’t a clue with your spiel Abought a $60 takedown without inversely speaking about how high we are since golds bottom. The outlook couldn’t be better and as long as your negativity and negative opinion like negative interest rates continue to pump the much better my investments will be.

        Feb 24, 2022 24:49 AM

        Norrareal, charts are clearly useless to you! Lol! You are completely wrong about the gold price being what the bankers say it will be and that they have 99% of it. Your lack of common sense is impressive.

    Feb 24, 2022 24:37 AM

    I might be wrong but I think that the global satanist elites have decided to finally collapse the system and they will be blaming the war in Ukraine for that. I am NOT sure they will allow gold to rise. Gold and silver should not be perceived as safe heaven.

      Feb 24, 2022 24:55 AM

      Becky Quick on CNBC made a comment similar to (this AM), Bitcoin appears not to be a safe haven, but the only thing up was oil and something else (despite Gold being up over $50 at the time and all commodities going nuts pre market.)

      When my account open, I was hit for -8%. The game is played the same no matter reality. Last two days (Tues/Wed), my account hit for -12%.

      It is early today, but I am concerned about the determination to make the markets as they want them, not as they are.

        Feb 24, 2022 24:00 AM

        I have written it many times here before. The price of gold and all things gold/PMs WILL ALWAYS were the elites/TPTB want them to be.

          Feb 24, 2022 24:04 AM

          The elite satanist………… need a lot of gold for that Golden Calf……. never enough , they want it all…..

            Feb 24, 2022 24:16 AM

            They already have 99% of all gold. But unlike paper currency, gold is not infinite. Hence, paper, soon to be digital, currency is a lot better tool for enslavement of masses. They want to take gold out of the system. And they will do that, once central banks’ digital currencies are rolled out.

            Feb 24, 2022 24:18 AM

            Thanks Norrareal 1968….for the reply……… I had not heard that one…. 99%….but, I can believe it….

    Feb 24, 2022 24:35 AM

    I’m surprised there’s not more chatter about crude Oil being up at $98 (it got up to $100 at one point tagging that triple digit level finally).

    These high Oil prices are not going to help with inflation… or business… or consumers expendable incomes.

      Feb 24, 2022 24:00 AM

      I’m surprised there’s not more chatter that gold is at a two year high, give or take, and the miners with positive drill results, perpetual happy talk from Kitco promoters, the worse European conflict since a couple of great wars, the threat of use of nukes by Trump’s revered strategist destroying the lives of millions innoents etc etc and HL is up one penny as I write, and super performer ipt is also up one penny but down roughly 50% this past year.
      You guessed it Matt, hanging on every chart you post for the nirvana moment while sitting with a third position in my favorites with one foot out the door, bought over a month ago with one of them AEM down 2 bucks, albeit it, still off the bottom.

      Feb 24, 2022 24:00 AM

      Maybe backtest brk out of channel down to 95.
      then… only the oil gods know

      Feb 24, 2022 24:06 AM

      I have 2 oil stocks and one NG. One oil stock is up under 2%. The other two stocks are negative. In my some up and some down ongoing saga, more are down than up and the account is still negative although no longer down $50K.

      Feb 24, 2022 24:20 AM


      It is my opinion oil is putting in up blow off top
      Which will see it have a multiple month correction. Inversely this is where the miners Will really start to play catch-up as the equities market continues to go down as well prime time for rotation. Money flow is coming

        Feb 24, 2022 24:26 AM

        Might be an interim blow off top, but if anyone thinks the US is going to be oil independent…I don’t think so. Fracking wells don’t last too long and are expensive as a result. Price has to stay up to motivate drilling companies. Even when Trump was claiming oil independence, we were importing. Now there is a new field being developed down in Guyana (home of the Jim Jones fiasco), and although it is being developed by Exxon and others, it is not a US country. Oil prices may come down by force or intervention, but worldwide shortages are going to continue. Hold all those thoughts. Just my opinions and I am very far away from knowing much about oil. I just know JPM has got in trouble for committing fraud in that area also.

    Feb 24, 2022 24:52 AM

    The silver miners have been woeful on an absolute and a risk-adjusted basis vs pretty much everything else on earth.

    There was a two month window right off of the low in 2016 where if you had bought you would still be “in the money.” But for anyone else it has been a miserable ride and certainly not worth the risk you incur when you buy them. I suppose at some point they will finally move higher relative to everything else, and it could be we are approaching a turning point. But it is literally anyone’s guess.

    Feb 24, 2022 24:13 AM

    watching parents with their kids, folks hunging each other in absolute fear and praying being interviewed in bomb shelters, heart rendering.
    Shamed sitting here with the post I just made analyzing the benefits of owning gold.

    Feb 24, 2022 24:17 AM

    Authoritarian governments are not all they are cracked up to be… need to think about that when voting.

    Feb 24, 2022 24:25 AM

    My account responding to the economic crisis in the US and invasion of Ukraine…

    Currently -$86.91….going crazy, I know.

    Feb 24, 2022 24:35 AM

    4 days ago…
    Feb 20, 2022 20:52 PM
    NEM has finished the last two sessions above its Bollinger bands and has moved up 15%+ in 3 weeks so a decent pullback is likely coming soon. [And it will be interesting to see how it affects the jonsyls of the world. Waaah! 😭 lol]

    Notice today’s open precisely at fork resistance after moving up 19% in 3+ weeks and 35% in 3 months?
    Today was a HUGE no-brainer of a time to sell for anyone who knows how to trade.

    The cherry on top is that jonsyls of the world behaved as expected!

    Feb 24, 2022 24:48 AM

    A smart guy on another site shared the following and is exactly right:

    The Sentimentrader Optix were all in their 80s yesterday and this opening gap will likely push them into the 90s. That is extremely rare and common only at the initial moves off lows. However, such readings invariably lead to those bone-rattling intraday flushes.

    From a fundamental standpoint, the recent news on Barrick is awakening the market to the fact that these companies are making a pile o dough at these margins. Whether gold is 1700 or 2000 the miners are now gushing cash.