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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: Silver's Intriguing Setup & Upside Target...
Published: Thu, 07/20/23
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As the precious metals sector has rebounded, Silver has outperformed Gold.
The technicals are looking more interesting. Specifically there are two or three things to watch. I show and explain in this video. Video: Silver Analysis How does Gold typically trade two or three months before a major breakout? It tends to rebound from its 150-day moving average. I discuss the signal and short-term levels to watch for Gold & Silver. Be sure to watch this video as I cycle through a handful of charts. Video: Gold Exhibits Pre-Breakout Behavior Rick Rule is hosting his annual resource conference in Boca Raton in July. One can attend physically or even virtually. Click Here for all the Information on the Conference (Note, if you attend I receive a small commission) -------------------------------------------------------------------------------------------
 Nevada King Gold (sponsor of this free newsletter) discovered oxide mineralization at its Atlanta Mine Gold project in Nevada and has reported numerous, excellent drill hits. They have drilled high-grades over some lengthy widths. Nevada is the top mining jurisdiction in the world. There have been quite a few takeovers there in recent years and oxide projects are quite valuable. The company just doubled its land package. ------------------------------------------------------------------------------------------- In TheDailyGold Premium... Here is a snippet from the executive summary of TDG #839: The good news for precious metals is Silver and the stocks are leading but the bad news is Gold is acting poorly in real terms. If Gold were acting well in real terms (against S&P 500, foreign currencies), then it could be all systems go for a breakout. For Gold, this is entirely a dollar weakness move, which limits its sustainability. I may have underplayed the positive divergence in the GDX advance/decline line last week. There have been four divergences since 2016 and the resulting advances in GDX (from bottom & before a 20% decline) were..... ...So a dollar decline with over-bullish sentiment on stocks and a potential rebound in bonds should definitely benefit precious metals. Hot money could rotate out of tech stocks and play the potential breakouts in Gold & Silver. Do not wait for Gold to breakout. Subscribe today! -------------------------------------------------------------------------------------------
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