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Jordan Roy-Byrne – Are We Seeing A Non-Confirmation Bottom Form In Precious Metals?

Shad Marquitz
September 21, 2022

Jordan Roy-Byrne, Founder and Editor of The Daily Gold, joins us to discuss his technical outlook on silver, gold, and the PM mining stocks.   We start off discussing the key support level gold is hovering around, and while it has been correcting down further over the last few months, we could be seeing the early stages of a non-confirmation bottom in gold.  

 

With Silver having bottomed 2 weeks ago and rallying from the mid $17s to the mid $19s, and with mining stocks basically trending sideways, but not selling off much harder as gold corrects, then this non-confirmation of a further corrective move, could be the start of an intermediate term really.  The bear case would be strengthened if gold did close decisively below $1675 for the week, and if it is unable to close above $1700-$1715 next week at the monthly & quarterly close.   

 

We wrap up posing the question of if we are even still in a bull market in gold, if the last 5-6 years was a bull markets, and if we’ve been in a bear market the last 2 years.   Jordan breaks down some interesting technical and inter-market analysis observations, but points to the necessity to see the general markets roll over under the 40 month moving average to ultimately show they are in a secular bear market, and for that to provide the leverage for PMs to diverge and begin a true secular bull market.

 

 

 

 

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

Discussion
3 Comments
    Sep 21, 2022 21:59 PM

    The large H&S bottom in the gold silver ratio did hit its projected target 4 weeks ago, so at last that isn’t a headwind any more.

    Has the ratio finally topped out for good?

    Reply
    Sep 22, 2022 22:57 AM

    Next Move in S&P 500 Bear Market: VIDEO

    Jordan Roy-Byrne CMT, MFTA – The Daily Gold – September 21, 2022

    “The bear market in the S&P 500 may soon reach a critical inflection point as it tests its 40-month moving average and its first bear market low. Recall that losing the 40-month moving average is a signal of the end of the secular bull market and the start of a new secular bear market. It’s also the signal for a coming new secular bull market in Gold.”

    https://thedailygold.com/video-next-move-in-sp-500-bear-market/

    Reply
    Sep 23, 2022 23:01 AM

    What happen to that big powerful cup and handle ??

    Reply

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