TG Watkins – Technical Outlook For Uranium, Gold, GDX, Silver, US Equities, Bitcoin, And Crypto Miners

TG Watkins, Director of Stocks at Simpler Trading and Editor of the Profit Pilot website, joins us to share his technical outlook for uranium stocks, gold, GDX, silver, US general equity markets, bitcoin, and the crypto miners.  


We lead off looking at the continued surge in uranium stocks via the Sprott Funds Uranium Mining ETF (URNM) and Denison Mines (DNN), noting they may be getting extended in the short-term, but still are set up in a bullish pattern for the medium-term. Next we look at the technical set up in gold, which has been bullish on the longer-duration weekly and monthly charts, but a bit weaker on the short-term daily chart.  GDX and Silver both are choppier charts, channeling sideways, and have yet to show the same bullish posture as the gold chart has, but TG mentioned that on a the longer-term charts that they may have just taken longer to consolidate before play catch up.


Next we shifted over to the US equity markets, where TG outlines why he thinks the markets broadly need a cooling off period after such a big move higher at the end of 2023 into overbought conditions.  He’ll be watching many individual stock charts, highlighting what we’ve seen in companies like Roku Inc (ROKU) or Datadog, Inc. (DDOG) to assess how they pullback to the 21-day exponential moving average and the 50-day simple moving average to see how pricing interacts with support, for the next move higher.


We wrap up by getting TG’s technical take on the cryptocurrencies, highlighting the volatility in bitcoin, but the general trend higher the last few months anticipating the around the bitcoin ETFs being approved.  However, when one looks as the price action and charts for the crypto miners like Marathon Digital Holdings (MARA), Riot Platforms (RIOT), Hut 8 (HUT), or Hive Digital Technologies (HIVE), it was a textbook example of buy the rumor/sell the news type of trading action. 




Click here to keep up to date with TG at the Profit Pilot website.

    Jan 15, 2024 15:05 PM

    Finally paid for TG’s moxie indicator. It’s not cheap but already made a few trades that covered the price. I like it!

      Jan 15, 2024 15:51 PM

      That’s good feedback CaliJoe and thanks for sharing that on TG’s moxie indicator.

    Jan 15, 2024 15:00 PM

    Uranium Bull Market Roaring as Supply Squeeze Plays Out in Real Time

    Commodity Culture – Jan 15, 2024

    00:00 Introduction
    01:20 Is Uranium Due for a Pullback?
    04:01 Effects of SPUT on the Market
    08:01 Kazatomprom Missing Production Targets
    13:06 Government Support for Uranium Mining
    17:47 Overview of Stallion Uranium
    20:12 Stallion’s Main Properties
    22:54 Team Behind the Company
    25:56 Recent Exploration News
    28:35 Stallion Uranium at the VRIC

      Jan 15, 2024 15:03 PM

      Kazatomprom Cuts Accelerate Uranium Bull Case of Tightening Supply & Price Upside; Sanctions Risks Add Volatility While M&A Consolidates Sector

      Matthew Gordon – Crux Investor – January 13, 2024

    Jan 16, 2024 16:41 AM

    Take advantage of the markets today as the algo operators can’t get to work because of the snow. Not sure how big the window is as it is iced over.

      Jan 16, 2024 16:40 AM

      False alarm: everything down with IBKR. OTC Schwab only adjusting for Cads good day on Monday without US involvement.

    Jan 16, 2024 16:47 AM

    Added to Noble Mineral. They own some Canadian Nickel and are in the area with their own project. A lot of interest at the moment with being undervalued just considering their shares in CNC. Worth a read despite what the US is doing to markets.

    Jan 16, 2024 16:52 AM

    Benton worth another look as had some more decent copper drill results. Look at their news release as they keep filling in the blanks on pending news outstanding. You can see the copper hits as they have been reporting each drill hit as they go and just add to it. .

    Jan 16, 2024 16:53 AM

    Goliath Discovers 21.5 oz/t AuEq In Volcanics From Bonanza-Grade Outcrop Recovered From Within A New >500 Meter Shear Zone With The Same High-Grade Gold Mineralizing System As Surebet, Bonanza and Golden Gate Zones

    16 Jan 2024

    “Sample ST116183 assayed 21.5 oz/t AuEq or 667.40 gpt AuEq (636.00 gpt Au, 1,690.00 gpt Ag, 7.96 % Cu, 2.22 % Pb) and comes from a 30 cm wide quartz vein with 15 % chalcopyrite, 7 % pyrite, and 1 % galena hosted in a shear comprised of strongly silicified Porphyritic Andesite within the Hazelton Volcanics.”

      Jan 16, 2024 16:55 AM

      I realize this is just a sample…. but 667 g/t gold equivalent is insane bonanza grade.

      Even the individual contributing grades are wild for gold, and still quite high for the silver and copper: (636.00 gpt Au, 1,690.00 gpt Ag, 7.96 % Cu, 2.22 % Pb)

      It also shows that Goliath has another shear zone discovery here at Jackpot, and to Roger’s point in prior interviews, there are likely a number of these same types of highly mineralized shear zones across their land package, as a repeating geological event.

        Jan 16, 2024 16:33 AM

        Back in but hard to trade-off for other stocks in portfolio. Need to add some more but not today. The MMs seem to prefer bad prices on the sell side.