Jordan Roy-Byrne – Technical Price Targets To Watch In The Precious Metals

Jordan Roy-Byrne, Founder and Editor of The Daily Gold, joins us to review support levels in the precious metals sector after we’ve seen a short-term corrective pullback, in the context of the larger bull market pattern still well underway.   We start off discussing the pullback in gold and that Jordan’s earlier target of $1908 came into play, right above key $1900 support, but that he is still watching to see if gold can get up and hold above $1920.  Jordan breaks down 2 prior periods where gold corrected, then approached all-time highs, and then had corrective moves followed by even larger rallies.  Jordan unpacks where these moves project a potential pullback to the high $1800s, but in the context of that bullish medium-term bounce out of that move, and also in conjunction with the longer-term cup and handle pattern that is also still playing out.


Next we moved over to silver and that while the technical outlook isn’t quite as bullish as gold, and it has more overhead resistance levels to clear at $28-$30, $35-$37, and $50, that Jordan still believes it will eventually start to play catchup to the moves in gold, once the yellow metal is above $2100.   We wrap up by taking a look at how the mining stocks via GDX and GDXJ, that have generally held onto more of their gains and have better technical setups than the metals; which is a constructive development in the sector.

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

    Mar 16, 2022 16:27 PM

    Gold Has Done This Only Twice

    Jordan Roy-Bryne CMT, MFTA – March 14, 2022

    Mar 16, 2022 16:31 PM

    I’ve not listened to the Fed meeting yet, and been tied up with calls and work all day, but figure we’ll be hearing about it for the next 2 weeks… so, I don’t know the answer to these 4 questions yet. If anyone else listened to Pumpin’ Powell and has more insights, then please share them.


    Four Things To Watch At Conclusion Of Fed Meeting

    By Greg Robb – MarketWatch – March 16, 2022

    – How many hikes will the Fed pencil in?
    – What will Powell say about the impact of the Russia-Ukraine war?
    – What will message be about inflation?
    – Will Fed give details about plans to shrink its balance sheet?

    Mar 16, 2022 16:36 PM

    Gold Bugs Now: A Joyous Mood

    Stewart Thomson – Mar 15, 2022

      Mar 17, 2022 17:22 AM

      Yeppee…………… $1923…… call not to bad…. ….. lol……..
      that should last about ….humm….. till Freaky Friday……
      Wild West show…….. Ukraine … Inflation ….. humm…..

    Mar 16, 2022 16:38 PM

    Ira Epstein’s Metals Video (3/15/2022)

    Technical Analysis, Gold, Silver, Copper, Platinum

    Mar 16, 2022 16:44 PM

    Australia Unveils $360M In Critical Minerals Funding To Offset China Dominance

    Reuters – March 16, 2022

    “A meeting of the Quad group leaders of Australia, the United States, Japan, and India agreed in Washington in September to improve supply chain security for rare earth.”

    “China currently dominates around 70 to 80 percent of global critical minerals production and continues to consolidate its hold over these supply chains. This initiative is designed to address that dominance,” said Angus Taylor, minister for industry, energy and emissions reduction.

    Mar 16, 2022 16:43 PM

    Chinese tech index etf(3032:HK) opens up 14% Thursday morning. Zijin Mining(2899:HK) only up about 4%

    Mar 16, 2022 16:06 PM

    The Federal Reserve policy of raising rates 1/4 a point is not a new policy, it is an old policy. They realize that inflation might be a menace, but the fears that the public is feeling at the check out and the pumps is being dissipated with a slow raising of the rates. The new policy like the old policy is simply “Do not rock the boat”.

    In order to defeat inflation you must defeat speculation. They are telling the speculators that the gateway to fortune still stands wide open. Speculation won’t be curbed, it and inflation will keep running rampant because The Federal Reserve is beaten. DT

      Mar 16, 2022 16:26 PM

      Speculators are so all in on the everything bubble that they are ready to pay these measly 1/4 rate increases, just to keep prices still climbing. DT

        Mar 16, 2022 16:33 PM

        Speculators gonna speculate…

          Mar 17, 2022 17:51 PM

          Isn’t that speculation …

            Mar 17, 2022 17:38 PM

            yep… it’s all a speculation. 🙂 Good one Lakedweller2!

    Mar 16, 2022 16:45 PM

    Reversal and bull hammer for SLV today after retracing 50% of its 22 day 22% move…

    Mar 16, 2022 16:52 PM

    Were the Fed even remotely serious about fighting inflation, they would’ve done all 7 rate hikes at once. They’ve gone a decade trying to create inflation. Success!!!!

      Mar 16, 2022 16:32 PM


        Mar 17, 2022 17:15 AM

        Plus 3………… GOT GOLD…………. lol……….

        Mar 17, 2022 17:53 PM

        + at least 400 quadrillion.

    Mar 16, 2022 16:59 PM

    CWEB up 80% yesterday. Several years of inflation protection in one day.

    Mar 16, 2022 16:45 PM

    Long Term 10 Year T-Note Rates : How High? : FOMC Rate Hikes Begin

    Mar 16, 2022 16:00 PM

    I was disappointed as I was hoping the Fed would announce they were going to hold .25 of their scheduled meetings this year but they talked interest rates instead.

    Mar 17, 2022 17:39 AM

    Hey Matthew. Just to be sure where you’re at right now based on what I’ve read from your posts and charts….right now you are bullish on the PM’s but not the commodities??? Always appreciate your input. Thanks

      Mar 17, 2022 17:31 AM

      In general, yes. As you can see on the following chart, GDX is at/near an important low (more than short term) versus the CRB:

        Mar 17, 2022 17:34 AM

        GDX vs GNX (Goldman Sachs Commodity Index) looks similar as commodities have outperformed for almost 100 weeks.

        Even if commodities manage to hold up better than I expect in dollars, the odds favor the pm miners greatly outperforming.

        Mar 17, 2022 17:52 AM

        This CRB chart is not live but will update later. You can see how weekly overbought it had become as its RSI reached almost 90. From a risk-reward perspective, the gold-silver space is easily much more appealing.
        Relative exceptions might be uranium and lithium since they’ve corrected for awhile already and show possibilities. However, they still show the potential for more downside and/or the potential to chop sideways for months before making new highs. Oil might have a another shot higher left in it but again, the risk-reward of the gold-silver stocks simply looks much better.
        URA is way above its January low just like GDX but unlike GDX, it shows much more downside risk.

          Mar 17, 2022 17:11 AM

          Thanks as always Matthew…..been buying more impact lately and love the bang I’m getting from the orezone warrants.

        Mar 17, 2022 17:12 AM

        Sugar has also already corrected for awhile and is trying to get going again:

        To be clear, I am very bullish commodities longer term. The sector just needs a break (again, generally) especially when compared with the gold and silver stocks.

        The CRB versus the S&P500 would have to rise 5,500% from here just to reach its 1974 high. I am absolutely not predicting that will happen but I do believe that commodities will blow away conventional stocks for many years to come (with corrections along the way, of course). Those who scoff at $200 – $300 oil are foolish. We already had the equivalent to $300+ oil in 2005 and 2008 when adjusted for inflation.

          Mar 17, 2022 17:48 AM

          $300 oil would do wonders for my SU, CVX, XOM, and DVN, unless Biden slaps an excess profits tax on oil like Jimmy Carter.

    Mar 17, 2022 17:42 AM

    Some up …some down…
    Took 7 minutes to do morning hit on Emerita….
    Emerita is in process of contracting with new Market Maker.
    PMs, metals and oils in green.
    Short squeeze last Thursday was very effective. They have systematically walk it back every day taking back 36% + gain. (Positive news was last Thursday)

    Group Ten back to .31 after almost starting to move out of range. They evidently have too much potential.

    Essential Metals in Aus was up +97% earlier in week. Next day took gain back. Today up +14%. Lithium drill results triggered first gain.

    Bitterroot showing + 14% start today bringing my shares to $1.05 gain.

      Mar 17, 2022 17:55 AM

      Seems like a day trade possibility with Emerita. Sells off in first 30 minutes and usually rallies back somewhat.

        Mar 17, 2022 17:30 AM

        Yes, you would think so except for the squeeze last Thursday. That was the biggest single day move in my account dollar wise in history. However, the walk back I have seen only when I breathe.

    Mar 17, 2022 17:26 AM

    There is a good article there among many, that ties JP Morgan to the Nickel LME fiasco. Instead of the London Whale, this time it is the Chinese Whale.
    I guess it is something to discuss over tea …

    Mar 17, 2022 17:43 AM

    Here’s another item to ponder. has an an optional Wiki area under “profile”, where members of any one site can post things they want to store. In Emerita’s case, they elected to track share ownership. It was voluntary and probably had some errors, but in general it showed the distribution between individuals, institutions, insiders, etc.
    So, somebody deletes it because they can. Was it someone who got squeezed? Was it a troll?
    Just shows how unprincipled and weak parts of society have become.

    Mar 17, 2022 17:43 AM

    Entertaining Thought:
    80% of my stocks now “”Green” … up $497

    Spoke too quick: Up date: 80% of stocks “Green”: Down $3000

    Before everyone says shut up, going to do something else today.

    Mar 17, 2022 17:54 AM

    Looks like the trash Juniors are starting their thing.

      Mar 17, 2022 17:02 PM

      + 5.19% for day. Thanks Matthew for the confirmation information. Will see how the week ends. I am mostly sitting at this point.

        Mar 17, 2022 17:34 PM

        Today’s gaps brought plenty of extra selling and I wouldn’t be surprised if they get filled/partially filled (i.e., dealt with) tomorrow. I’m hoping they do rather than later and from a higher price. It would be great if the miners gap down into their up-gaps tomorrow and then take off but I’d settle for gap fills and then not falling apart.
        SILJ gapped 1.5% today so I’d like to see at least two-thirds of it filled.

          Mar 17, 2022 17:41 PM

          I didn’t have too many gaps in the individual stocks. They kind of wandered around all day and then found the exit to the pen and jammed it up … then got out one by one and let Emerita have the big finish.

            Mar 17, 2022 17:51 PM

            Yes, luckily our juniors can move very differently that the stuff that fills the ETFs.

    Mar 17, 2022 17:38 PM

    gold snaps back as do my gold silver stocks BTG for one TRUMP—PUTIN —JOSH HOLLY are birds of a feather they flock together . Anyone who prasied Putin in the past is not qualified to sit in congress or run for office.

    Mar 17, 2022 17:39 PM

    If you have an hour (in between basketball) this is a good listen and discussion where we’re headed financially: Don Durrett on Palisades.

      Mar 17, 2022 17:39 PM

      Thanks for that post Silverdollar. It’s always good to get Don D’s thoughts on the PM sector and markes.

    Mar 17, 2022 17:32 PM

    Charles Nenner knows the war has nothing to do with what’s happening in the markets…

    Mar 17, 2022 17:35 PM

    Thanks for the Nenner post……… always some great info from Nenner…………. IMO

      Mar 17, 2022 17:53 PM

      I only know him from these occasional interviews but it’s clear he knows a lot a lot of useful stuff about cycles.

        Mar 18, 2022 18:28 AM

        DItto…….. on his knowledge of cycles……… been following him for years……. never subscribed , but, always found his info informative…….

    Mar 17, 2022 17:58 PM

    BOIL is simmering harder lately and will soon be boiling…

    Mar 17, 2022 17:43 PM

    Silver backtested a Fibonacci fan line, a fork and a speed line and finished above all three today. That doesn’t mean the backtesting is necessarily over but it was a show of some strength. It looks like it wants to go higher before taking the break that many expect to happen now.

    Mar 18, 2022 18:08 AM

    Freaky Friday…………… again………. should be interesting today…..
    GOT GOLD……..GOTS……… KISS………… 🙂