Bearish Reversal in Gold & Silver
Вставка
- Опубліковано 23 тра 2024
- Gold reversed lower after a false new high, losing 3% on the week. Silver and the miners held up better, losing 2.5% and 3%-4% respectively. In this video we discuss downside targets and support levels in Gold, Silver and the miners.
Which junior mining stock is one of my biggest investments and has 20-bagger potential? Get your free report here:
thedailygold.com/
RESOURCES FOR YOU......
------------------------------------------------------------------------
★TheDailyGold University Series★
↪thedailygold.com/category/tdg...
★ Learn about my premium service ★
↪thedailygold.com/premium
Follow Me on Twitter:
↪ / thedailygold
#Gold #Silver #How to Invest in Gold
Its ok. No need to panic just a little pull back!!!
Backed my truck up yesterday. 23k into physical silver
Why? You got a lot further to go down
@@mofun5315 negative..
Bold move - big ⚽️⚽️
@@mofun5315 your comment just about guarantees there much more upside coming before any significant downside. US silver market is net liquidating into this rise and it keeps ripping. THE SILVER BULL IS REAL.
Yep got my money into Sprotts Pslv ETF physical.
Who here thinks Gold and Silver will go up in price?
With the amount of sovereign debt I think it is an almost certainty
I do …
To have , and to hold , from this day forward …😢
Absolutely, come September it will rip higher.
Gold to at least $3K in next 36 months, $5K within next 7 years. TAKE THAT TO THE BANK.
Nothing but a healthy pull back. ; relax
The mistake people are making is its not a pullback, its a consolidation.
Thanks Jordon. END THE FED. Gold IS money.
The metals got so extended from their 200 day MA, a pullback was completely expected. the big picture is they are still in a big uptrend, I'm fine with a pullback, time to buy the dip! excellent analysis!
If I were betting man, based on your tone this was not an easy video to produce considering how excited you were last week. BUT I appreciate you sticking to the charts and facts. And not misleading anyone. Phantom follower now subscribed.
I will always cover it how I see it, my own ego be damned. My goal is to help inform and educate. Thank you for the comment and subscribing! Welcome aboard.
Thank you, Jordan! Please have a pleasant holiday weekend. "Because gold is honest money, it is hated by dishonest men" -- Ron Paul
Same to you!
You are always the voice of reason! Got my brother following you now, and hope to have my son also. I very much appreciate your work!!
Thank you for your support Eric!
I agree Jordan. The GDX tells you much about the next month or so.
Investor sentiment changed quick. Not an unexpected correction. Positioned for it to continue a bit further
Retail still asleep in regards to Ag n Au.
@@esioanniannaho5939 100% they are. But on X I think the gold and silver bugs got a bit too excited. Pull back for a bit and then another move up will be ready
I had expected a correction, but not before $35 silver and $2500 gold because we just had a brief pullback a little over a week ago. So I was not looking for another correction at the same levels we had a couple weeks ago.
We might have had a larger one if those targets were reached. Maybe we'll slice through on the next move up as there are silver targets ~37-38 and gold 2700. Either way, two steps forwards and one backwards is better than the last few years where it was opposite!
Salute And Cheers To All Stackers
Good recap. Appreciate support levels outlined.
Sell .. Sell... Sell.. everything 😜.. Just kidding. Diamond Hands 👌🏻
Lol jakester
Thanks Jordan, any chance you could get your crystal ball out and tell us when junior developers are going to get a bid?
Cheers in anticipation 👍🏻
The 3 on my top 10 list have performed very well the past few months. The ones that have not, may start to move when Gold takes out 2450.
Thanks for the useful information
Thanks for the updates🙏🏻
You bet!
Nice chart analysis.
Thanks!
Great analysis - very practical and helpful - cheers!
Glad it was helpful!
Thanks Jordan. 1st time I saw your podcast. Useful alert to navigate the next few weeks.
Thank you Tony and welcome to the channel.
Thanks for sharing insight.
My pleasure!
Jordan is the best in the business. I’m hanging on to my quality miners with both hands.
Thank you for the kind words!
Are such as Barrick or Newmont still "qualitiy"(?!) They are..getting risky...because with more mines in little secure world regions, while such as Agnico Eagle or the the top of the Juiors...Kinross...are in much secure (first place in Kanada)
Gaps usually get tested and filled. Gold chart has some backing and filling that's overdue. Fed is going to stand pat into unemployment rising. Intermediate, inflation is going to temper. Gold going to pullback. BUY IT WITH BOTH HANDS. Fed is going to cut and start the inflation cycle once again. Unemployment above 4% PLUS eventual monetization of the debt, gold is golden. The rock is still solid for the long haul.
Hope it does, ... I want to acquire three Silver Monster Boxes, when a CD I have matures mid-June.
Last season that this will happen. Merchants are on vacation, and I feel that seasonality will be over for ever. This diversion maybe around 7 months.
This is my first commodities bull market, and I got some less than ideal entry points. I'm going to hold on anyway, because i should still do well.
Bill Holter thinks $30 is the new floor for silver
We will see. I would guess $28-$29 is but time will tell.
Should we buy
“ Silver Elephant “ mining stocks ?
With absolute infinite paper available to short, it will never squeeze up. The banker shorts never get closed, they actually add when in losing trades, why, because they can. Endless paper that you never have to cover for a loss. You can't win against that.
Two steps forwards and one backwards is better than the last few years where it was opposite!
Gold and silver seem to have put in a bottom today, Friday. Any chance that was it, and we start moving higher on Sunday evening and resume the uptrend?
Silver may still have a fast rise "gap" to fill between $29.6 and $30.2....if anything occurs down from here on Monday night/Tuesday open.
It's almost as if metals and miners will go up and also back down sometimes but mostly up.
Next week you can make a video about. . .Bullish reversal in Gold & Silver ))
Absolutely...if we get that!
It's over! Everybody run! And panic! Don't forget that!
I should be careful, someone might take me seriously.
The very pressing issue for precious metals and diamonds is when they will fully adopt block chain to ensure the convenience for all shareholders who can not be weight lifters. That is why bitcoin can leapfrog gold
The miners were trashed Tue.thru Thur. , Fri. saw a little oversold rally , but a 3 Day Weekend will be tough to wait out Tue. open !
Bottom is in now !
G&S ended the week on a slightly positive note.
With geopolitics who knows what will happen this US Memorial Day weekend and monday also markets closed with "Spring Bank Holiday".
Interesting times !
That's not a bearish reversal, it's a bullish reversal because after this gold's daily Rsi now has retraced down to 46 (i.e. below 50). Following the first breakout-rally, gold on March 20 had retraced down to Rsi 64, yet from this in comparison overbought Rsi it then still ⤴+200 in 3 weeks..
Cool. I will buy more. 😂
youll get a 65 GSR with a 2200 gold price and 34 dollar silver.
Im holding out to buy silver in $24’s later this summer
Yell, I'm one of those who think it will test 26 and then move back up with the real breakout being in July.
A move From 32.5 $ to 26 $ is 18.5% decline , that's not a correction to test some level to resume Bullish trend its a legit bear market .
there are a few support areas before $26.
Four other higher supports $29.6, $29, $28.4, $27.3.
Depending on any geopolitical events (e.g. Taiwan) the Silver may stay above the "gap" fast-rise top $30.2.
@@yassiamy No, its still in a bull market. What it's doing is consolidating into a large head and shoulder before it starts to move again.
That was fast to go from Bull to Bear in a week are you sure it’s not just organized crime and they can move the markets anyway they want up or down at will?
Does anyone but me actually stair at the price moves? If you just check spot once in a while you won’t see it but if you actually study the movements there is nothing natural about the movements.
It is nothing natural more about mankind and... stock market trading... wasn't ever
But you said…..
I hope gold goes back to 1800 in a pullback & all the gold bulls would stfu again
We’d just buy more gold on the pullback.
Every time the silver/gold ratio has made a similar multi-year breakout (either to the downside or upside) the immediate follow-through in silver (and the miners) have been RELENTLESS. Just look objectively on the history chart. Will this time be different (and your 'pullback' video-analysis correct?) - yes there's always a 20% risk.
Btw, you're not aware that there's been a famous last 4 years of 30$ 'iron' resistance in silver, that iron resistance now have turned into iron support (still, as always a 20% chance even great set-ups will fail since we're guessing about the future). You're blind to that & targets '28$ retest'? Study what happened in late July 2020..
As long as countries have such enormous debts, G&S will keep rising. Of course there'll be pull backs as traders keep cashing in but the rise will be relentless until the debt is dealt with in some way. This will mean some kind of enormous economic shock or fundamental reset. Until then precious metals and other assets will keep rising.