Gold, Silver and miners for the most part have been consolidating bullishly since the start of December.
Gold faces resistance at $1840 and $1870 while Silver has resistance at $25 and $26. If the sector pops higher past this initial resistance, then look at upside targets of $1870 for Gold and $26 for Silver.
GDX has resistance at $30 and GDXJ has resistance at $37. Should the miners break resistance and pop higher, then the upside targets are $42 for GDXJ and $33 for GDX.
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5 Comments
Great technical analysis Jrodan as usual. It does not even want to drop for a retest. THe indicators point down but the buyers are scooping up any flushes. Has me suspcious that a big run is coming
Hi Jordan, I just wanted to thank you for erudite and concise analysis and to wish you and your family a happy new year. As a long term investor in PM sector would you now feel confident to add more to existing positions and not worry too much or wait for the inevitable pull back?
Good to watch these daily charts at the moment – it seems like a day by day proposition.
Happy and prosperous new year!! 🥳🥳🥳
Thanks for the info.
The parts that I heard were useful.
In the future, could you please put the microphone closer to your mouth?
If you do, we should be able to hear you better.