Jordan Roy-Byrne – Gold, Silver and GDX Technicals; How Important Was The Last 2 Weeks?
Jordan Roy-Byrne, Founder and Editor of The Daily Gold joins us to share his insights on the charts for gold, silver and GDX. After the breakdown at the end of September the precious metals have rebounded strongly to start this month. Jordan also points out that it’s not just geopolitics that are driving this move.
We have Jordan focus on the key levels to answer the question if this rebound in gold is an oversold bounce or the start of a more solid bull market move. On the precious metals stock front we ask if now is the time for the stocks to play catch up to the upside.
😂😂😂,
Massive volume, finally got movement in a junior explorer. NOCSF. Might news be forthcoming?
Powell has to speak again. Did we ask him or does he just buy network time? Is he a volunteer or on the payroll. Need to look in to it.
Over at KingWorld news, several months ago….The number at which the US treasury covers their gold suppression short position was said to be 1980.6 on continuous futures contract….This was presented by either Michael Oliver or Alasdair McCloud…..This apparently is the hidden resistance…glta
Whether that was true or still true?…no idea
Witness in real time a massive zone of higher highs and higher lows on this 30 minute /GC chart….This is buyers pressing back against the supposed said resistance cover zone…..IF the ABC up target is achieved notice it is over the alleged US. Treasury cover point allegedly computer driven…period
I’m worried that spike in gold is due to Israel war just like it did with Ukraine then down it comes again dragging miners along and also miners will get hit along with recession or at least modest pull back in stocks market first half 2024, so I will not sell low cost average of my core gold miners but positions added at pull back I’m going to not get greedy and sell into this rally as war in Israel heats up.
Already have nice core positions that if and when gold does get to say $2500 will be life changing so don’t need to get greedy here and also building positions in oil stocks when oil pull back to 65 area and will add on any pull back if recession does hit, they are paying great dividends and oil will be huge like gold over next 5 years.
I have the same concern…Can the suppression of gold manage to hold it below that triple top…I actually do not know….The cycles and technical’s say stay with it ……../GC must 1st break 2022 for me to feel some chance of success….
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I would normally have the same concern but not this time. Too many stars have aligned for this to fall apart unless it does so soon and before silver and the miners fully confirm gold’s action.
So far, silver has just backtested its broken 1 year uptrend so plenty of wannabe bulls are skeptical based on that alone.
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=3&mn=7&dy=0&id=p29789064556&a=1517623474
FCG is ETF full of nat gas companies…It manages to hold up as /NG the commodity finds its 3 year low…..
https://tos.mx/IG1VG0t
Been a couple of weeks in Texas and not able to trade much. However, several of my miners have had good drill results. but none of them up so far. All up movement occurred before the releases published, and then beat back. That will give me some room to move things around to confirm with the true values before any start up from absolute bottom.
Long and staying that way…phyz
I dig GDX:QQQ’s action. Yesterday’s big (2.7%) gap up was quickly dealt with and now it can head higher sooner rather than later.
https://stockcharts.com/h-sc/ui?s=GDX%3AQQQ&p=D&yr=0&mn=11&dy=0&id=p25988548790&a=1484675687
Concern…. should be on knowing the enemy…..
Family banking cabal. 🐑🐑🐑🐑Need to wake up
We are getting to the point that the markets need to be frozen, anyone in a regulated position put in jail and a new market started by homeless people.