Another portfolio update. This time following a butchering of a week. Despite fundamentals and macro backdrop, the miners in particular under-performed the metals, and the metals themselves, the markets. Time to face reality and let the technicals speak.
Here i review all the miners i hold in my portfolio, as well as those requested by subscribers. On that note, feel free to drop the names of any you wish for me to review in future videos. Actually, i intend to add other miners to the list of those that i will review in future videos…those being major ones that i don’t (yet?) own, but i do watch too. (like GFI, IAG, NG, EQX, AU, HMY, KGC and possibly more…basically i want to own or cover the best of the best or main ones.
Whilst covering DSVSF in the video, i also cover the fact that i liquidated my juniors as i felt they didn’t drop as much as some seniors in the last few days, so i saw the opportunity to do what i wanted for some times, which is consolidate my portfolio to only the best.
Juniors have long disappointed, and on top of that, in this environment of high rates and inflation, they probably will find it even harder going forward in terms of financing and market love.
Anyway….everything is timestamped, so enjoy!
Oh yeah, please do subscribe, comment, like the video, and click on the notification bell to watch more videos and help me gain traction!
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Intro: (00:00)
DXY: (00:50)
Bonds: (02:03)
Gold: (03:12)
Silver: (04:06)
GDX / GDXJ / SILJ: (05:45)
Newmont Mining / NEM: (09:15)
Barrick Gold / GOLD: (12:50)
Agnico-Eagle Mining / AEM: (14:46)
Pan American Silver / PAAS: (16:50)
Wheaton Precious Metals / WPM: (19:49)
Franco Nevada / FNV: (22:11)
Metalla Royalty / MTA: (24:29)
First Majestic Silver / AG: (26:07)
Fortuna Silver Mining / FSM: (29:09)
Endeavour Silver Corp / EXK: (32:08)
Couer D’Arlene Mining / CDE: (34:45)
Discovery Silver Corp / DSVSF: (36:39)
Aris Mining / ARMN: (40:40)
MAG Silver / MAG: (43:13)
Gogold Resources / GLGDF: (45:40)
Sibanye-Stillwater / SBSW: (47:00)
Eldorado / EGO: (49:16)
Hecla / HL: (50:16)
B2Gold / BTG: (52:57)
SSRM / SSR Mining: (54:06)
Outro: (56:32)
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#gold #silver #silversqueeze #gdx #dxy #xauusd #xagusd #newmont #barrickgold #copper #preciousmetals #stockmarket #gdxj #goldminingstocks #goldmining #miningstocks #goldprice #commodities #commoditiestrading
So Friday was a nice day for everyone else new all-time highs in the markets some stocks making crazy gains I mean you look at some of these stocks Microsoft uh you know the usual suspects Apple Nvidia thank God I closed my sh on that
One I mean and then you just look at the minus and it’s just I mean we’ve been there before kind of but this is starting to get to an extreme and the sentiment is maybe the worst ever because you got gold all the way up at
2,000 and then the miners in the dust bin and everyone else is doing crazy but it’s funny how the market has a way of shaking everyone out of their position on not everyone but it really has a way of just really getting to everyone’s deepest um psychological weakness let’s
Say with that said uh let’s look at the dxy so you know usual dxy then yields then gold silver minus and the actual portfolio so starting with dxy this little descending which I didn’t catch on to initially looks like it’s working so first all dxy close it l of day very
Nice maybe we’re going to go back and test breakout and you know maybe this becomes a lower high and then down we go here some sideways and then down we go there and then that’s the best case scenario for the miners you know those that hold miners it just becomes a lower
High but like over here but for now this is holding you know I do think we’re going to go down and test breakout I don’t think that’s too much to ask for 102.6 roughly yeah otherwise if we just hold I think that will be a bit of a drop in on
Monday because that’s the closer L of day but who knows if it starts to go sideways and close above then you’re going to have to start looking at this level here 104.3 is that I was looking at before so you know it can go either
Way but for now I think there has to be a bit of a drop initially so let’s let’s see but it looks good for at least to move down therefore I think 10 2.6 and if it keeps going then it’ll be the low of these sort of Tails here so one
102 there you go that’s the dxy let’s look at yields now yields the the one year looks okay break out the descending wants to go bit higher the 2year looks okay bit of resistance maybe you started to see some 4.4 is resistance let’s look at five year also had its horizontal
Resistance that L that worked quite well closed you know where it opened so gave up a lot of its gains that’s nice to see this 10 year close at low of day I don’t really see the resistance here but it’s probably just they’re all working off
Each other you know so overall it had to go down because the others were going down the third year maybe this horizontal resistance is working again as it did before so our yields at a bit of a resistance yeah a little bit you know nothing crazy but a little bit and
So’s a dxy so I would say the XY and yields have encountered resistance and they’re probably duw for a little more retracement which is nice right that helps the medals and the miners at least for one or two days Monday Tuesday let’s see def I’m going to say definitely
Monday there should be a bit of a drop okay with that said let’s look at gold and silver and Gold’s actually not done that bad I mean we had this drop we tested basically 2,000 we closed above it after losing this ascending and then we
Bounced back up very well we gave up a bit I mean we didn’t close the high of day but still another Green Day on Friday closing around 20 30 back in the ascending it doesn’t mean too much especially when it’s only just but you know we’re at 2030 we were trading at
2030 before for the whole last two weeks so you know if you went on holiday for the last four or five days you’d say yeah whatever at 2030 nothing’s changed but youve missed this drop and you definitely missed a massive overreaction in the miners which we’ll get to in a
Second so the point is gold technically I’m going to keep this ascending in there I don’t think it counts too much but you know we held 2000 we’re trading where we were before that’s actually all I’m going to say about gold let’s look at silver silver also holding its
Horizontal lows so wasn’t you know wasn’t actually that strong on Friday it was actually red whilst gold was green so that’s a bit of a strange anomaly you don’t usually see silver red when gold is uh gold is green so bit of weakness relative to Gold
But I mean wait till the miners so but you know we’re holding the lows let’s say we’re holding this 22.5 is range this low so that’s definitely a level to watch you don’t want to close below 22.5 otherwise down we go and I think these levels are accurate so we need gold to
Keep marching higher we need silver to start outperforming again and then maybe we can start testing this upper range here I think the nearest resistance by the way on Silver is 20 23.5 and at the moment we got 22.5 so I don’t actually see 23 as a level and for silver that’s
Quite unique because normally it’s one unit increments 21 22 23 24 25 but actually right now because of what’s happened this chopping US 23 for me I see nothing so we’re stuck between 22.5 and 23.5 on the upside I forgot to mention gold looks like we’re quite far away
From that but actually we’re not we’re probably won maybe two days away from that 20160 otherwise let’s just say 20080 uh roughly right 207 2080 but I see a little bit resistance here just in case we do start to go up if we do start to
Go up that’s going to look very bullish all of a sudden and I’d expect the miners to seriously outperform and do some catch up because because they flushed a lot as we will see soon um actually let’s just check that out now gdxj look we are definitely holding a
Bit of a level so at least we have some identifiable support 33.5 on gdxj you see these three hammers here’s the highest close so it’s looking more bullish to be honest with the way the dxy and the yields closed I’d expect Monday we fill the Gap we fill the Gap
We’ve come down a bit too much and I think even if there’s no Crazy Action I just expect gdxj to fill this Gap so I expect resistance here 34.6 is if we keep going up I’d expect resistance before this Gap 35.7 if we keep going we close the gap
Let’s just say 36 and if we keep going over here 7 I don’t really want to draw more lines but you know just to add graphics to what I said that’s gdxj on the way down by the way in case we start to flush I don’t see that happening I do
See this level here okay 32.6 this basically this low it could actually be here 3 yeah the low of this candle and then to be honest I see nothing until the absolute lows I don’t think we’re going to go all the way down there and if we do close below
This 32.5 I don’t see us the next day going that down there but it would start to make its way down to the absolute lows down here so that’s gdxj I don’t see much difference between gdxj and GDX look it’s the same thing you know same sort of Gap fills
And also the highest close in GDX just like gdxj so I do expect a gap fill and same thing you know next level would be all the way up here if we keep going it’d be the actual Gap fill and if we keep going and I
Don’t see any of this happening in one or two or three days I think it would take a week at least uh then we start to go test here nice level here and then the absolute highest we’re far from that that’s 2100 gold at least I would say at
This level because these are out underperforming so much on the way down yep the low here and if we keep going the absolute low down here obviously there are more lows but I mean we’ve done so much uh so much of a descent that I just can’t really fathom a
Continue Contin descent it’s just at some point something are oversold so those are the levels I’m watching let’s look at SJ same sort of thing yes we made a new low that’s interesting actually um so there it’s a bit different but it doesn’t matter it still closed pretty
High off its low and I still think uh we will move up to nine above nine actually it’s a little different but not really that much probably 940 because we know what GDX and GDX J’s chart are like they’ve got little gaps to to fill there’ll probably be a stop
Off before the Gap field and after so and this is also a bit of a midpoint between this level here and the low down here so those are the little mini levels on the way up I think that makes sense on the way down yeah there’s this one
Here and after that there’s the absolute low down here so that’s quickly and if we do start to move all the way up here which is not going to happen soon we’ll encounter sort of the descending resistance and the highs of let’s say 1050 so those are the levels we’re at
The lows I think we should bounce um Monday Tuesday but um let’s look at the actual portfolio now Newmont horrendous stuff you know looks like a junior I mean this is just at its lows you know it’s underperforming the the GDX you know GDX when you zoom out at least you’ve got
More levels this one we’re at the absolute lows Now new month’s been underperforming for a while it had a few days where outperformed but I remember I forgot when it was I think it was this candle here in fact I’m sure it was this one here this drop this Tuesday it
Dropped and you know the GDX chart the other miners were having a normal day I mean they weren’t doing great they were at their ascending lows also but this really led the drop I think and then it was Barrett gold that just really stole the show but anyway down we go we’re
Down pretty much at support I mean we are support because support is 34 right it can trade below but it’ll probably close above and this is a very nice candle here this is the type of candle you want to buy for a pop for a little bounce and you know like I’ve said
Looking at the dxy the yields the GDX is we probably do for a bounce and I think new mon I don’t know if it will find resistance at 35.2 but it’s got so much to make up for it’s just I wouldn’t be selling anything here I think there’ll be a gap fill that
3 6 nice round number I wouldn’t count this as a level I would just say okay here’s your first level which I’m not selling into I’ve been nibbling by the way I’ve been nibbling you know the last couple of days like Friday Thursday I think Wednesday I started nibbling I
Don’t know I forgot which day I bought new month but it’s down here I’ve been buying a few of them but very small stuff you know like if if it continues down I’m happy because I didn’t buy much if it goes up at least I bought something it’s it’s more of a
Psychological nibble because what if the market Cascades lower and takes the miners with them I mean then we’re really heavily dropped uh the miners will just be CR I don’t know if they’d be crushed they’d probably be outperforming the markets but still going down and you need to have cash you
Need to constantly have cash on the sidelines or you will just go crazy imagine being all in and then you just the only strategy you have left is to Hope or to have stop loss and buy back what you stop out of low I don’t know
You just always want cash and that’s one advantage to nibbling you’re kind of looking forward to the next day no matter what happens if it goes up you’re technically technically in profit with what you bought and if it goes down well you’re happy you only nibbled and didn’t
Take a decent position so anyway with that said I think first resistance on the way up is 36 um after that yeah 37 nice and simple after that I feel like that’s too far ahead in the future but maybe there’s a big move in Gold like
2100 or something and then you can start looking at probably something like 41 or 40 at least up here you know where you’re going to encounter the descending so on the way down I would say okay the absolute low of this candle 33.5 roughly and if you keep going take out the covid
Lows then 30 wow that’s a huge number and a definite level so 30 is a line in the sand for new mon I don’t care if you’re trading below 30 even if you’re closing below 30 I’d expect it to go back up above 30 this is a big stock you
Don’t just take out a level like that and keep going down um so 30 is a huge level but remember you have this covid level here of 33 so but it looks due for a bounce anyway Barrett gold look at that drop unbelievable yeah so down it goes
Um I think had bad earnings but I mean that’s that’s an over reaction right there you can see this level here you can see it bounced there there was this level I think I had this line drawn in already so that was quite nice oh yeah over here of course I
Must have so now we’re due for a bounce we will definitely Gap F so 16 is easy I actually I actually took a position in not not took a position but I added to Barrack but I did a bit of a fat finger error and bought um 10 times
I should have what I should have and um so actually this one I’m looking forward to is it was supposed to be a small nibble but this one was actually a bit of a bit of an ad let’s say so I look forward to this one bouncing and this one’s actually
Outperforming the others which makes sense because it massively underperformed with this candle so let’s just cover the the levels on the way down so first of all we’ve got 15.5 roughly then we’ve got 15 and if we keep going we got the lows down here of 14
Right 15.5 15 14 if we keep going we got this strange move here uh 13 that no need to consider anything below that because because it’s not going to happen in one week on the way up Gap FS straightway 16 on the way up after
That um i’ probably have to look at the GDX chart because the next level would be like this flush zone so 17 big round number that’s nice otherwise the retest of the ascending um but even there you’re probably testing you know this level up here 18 so big round numbers really
16 17 18 yeah simple and on the way down 15 14 13 okay that’s just really easy all right ano Eagle that one also similar sort of candles right best candle out of the three lower high match the high so obviously this is mini resistance but I think we take that out
Straight away on Monday and the best candle close out of the three so um that’s really hardly get 50 big round number technically filling the Gap uh but that’ll be very easy and igno is stronger than new Mon and Barrack if we keep going up after
50 we do have a bit of a gap here but it doesn’t matter too much I don’t know maybe 51 s just before the Gap yeah if the miners are making a big move I’d say igno eagle will go straight through everything and basically 51.7 should be the first real resistance
After that maybe 52 you know3 and after that this level here actually I do see is a little significant look you got four candles like the high of here the low of there the low there the high there the high there so this one’s probably a big one and then you probably
Encounter the descending so there you go um I would just do this these are the main two or three just mini levels which you know it could be wise to sell into them a little bit because see as how weak they’d been if they do make a strong move up if there’s any
Retracement you’d expect them to come back down again but then they could really bounce and then finally break out of this I do think we will break out of this you know gold silver gold has to go above 2100 and start to to run and if
That happens I’m sorry I don’t care how strange it is that miners have been constantly underperforming they just have to catch up because the amount of money some of these miners will make especially the seniors um well especially the Juniors you know the media mid-tier ones also but the seniors
Will just be such safe investment at that point that they would have to shoot up and take the GDX with them okay panamerican Silvera this one obviously trading at levels low levels so I’ve got 13.4 roughly um you know we pretty much touched that right 13.5 it’s the same
Thing interesting how this middle candle was better but anyway I think panamerican silver can consider itself at Absolute lows here 13.4 I do expect you know dxy and yields to drop a bit so it should move up what’s the first level of resistance it should be the high or
Let’s say the open on on Wednesday so here 14.3 let’s say after that I mean if we are continuing I’d expect Pan America to really do some catching up that took that was down you know 6% on some of these days after that we got more of a move
Up I don’t think it’s going much higher than that this ascending and really has been destroyed I’m actually going to take it out let’s just have the horizontals and remember this one here this massive descending one is not irrelevant let me just rraw it a little bit you know imagine we
Do start to move up you’re going to be testing it really soon once we next time we’re at 17 we’re not just at 17 we’re testing the descending so yeah let me just re count that you got 14.3 14.6 you know Gap fill keeps going you got
15.6 this a level a little bit of a level 16 year round number and then bam 17 those are the levels I’m watching on the way up for Pan America on the way down obviously 13.4 you could have a little fake flush and a nice Hammer so 13 really is the
Level let me just add this one in and after that wow Co lows 10.5 probably 11 it’s not going to go that easily below that 12 it’ll probably stop up at 12 too was 12 a level before resistance here I can’t believe we have to go back this far Co lows
Let’s say 11 because if you’re waiting at 10.5 or 10.51 uh you’re not going to get that this is going to be viciously bought up by anyone smart so I don’t know we shouldn’t really be looking at below 13 but what a gift what an absolute gift
This is when you have to start looking at the items in your house and just ping them off because that cash would be way better deployed here 13 below 13 honestly I can’t see it going below 12 but massive support at 11 I’m going to say 11 I’m going to move this up
Because because I don’t see it going below 11 so that’s Pan America um weaton weaton so this one I bought back I sold it on this move here bought back here I still had a third on the way down no problems buying it back because it’s dropped very little ween is doing what
Royalties do and that’s holed up very well in the face of Calamity I mean the seniors you’d expect also to do very well but as you’ve seen they’ve been crushed I mean Newmont Barrack Pan America really crushed a little bit but really you’d expect the moves that
You’ve seen in those you’d expect from Silver mid tiers or Juniors but anyway ween doing quite well here you can see this level holding up very well so we’re holding pretty much 40 5 I don’t know seven uh it was a resistance here this line I’ve had in a
While I’ve had in for a while um so it’s doing quite well the ascending I think I should start removing them they’ve just been breached multiple occasions so if we start to move up I don’t see much I mean honestly I don’t expect it to move up as much as
The others but I would say this is a very small level it was a high here here support there so once we close above that 48 very small level yeah I’m not going to bother with every one unit increment I think this is a bit of a level right
49.5 and then it’s interesting 50 I don’t really see as a level 50 itself I don’t see it’s more 50.5 to 51 but anyway I don’t think we’re going to get there unless there’s a big move in the miners so for me the first stop is 47
Close above that yeah a little bit 48 go on it’s true just because of those two candles and then up we go to 49.5 if we start to drop down we go I don’t see anything till here actually because I think once you lose this and close below
45.5 let’s say you’re I in 45 a little bit I think it’s time to go here and start testing some Gap Zone but if weaton is doing that I mean mean the sector is going lower and I don’t see that I don’t see this happening actually
This week um next week Gap F and then the low’s down here okay that’ll do for weaton okay Franco NADA this one has is actually stabilized higher than its recent lows so the chart’s a bit different for this one it got crushed beforehand that was some uh Panama news
I think it lost it panian operations so this drop hasn’t been disastrous relatively speaking as the disaster already took place now it’s higher lows it looks good it’s a royalty streamer it’s an absolute Beast it’s arguably one of the best of the best in my opinion so it’s a new addition for me
I think we will bounce in Franco Nevada along with all the others and I think you’ve got really no resistance until here because you’re not going to have a small bounce in this one it’s quickly going to take out 110 which should be the first small level
And that’s that should be taken care of on day one maybe even intad day of day one but I see nothing until 114 and once you close above 114 you’re probably going to go a little higher than there you’re probably going to go towards yeah 120 to
122 yeah that’s what I would say so that’s those are the levels on the way up uh so I’m removing this one because honestly if you start closing above 114 you’re not going to just go to 116 on the way down it’s just one level it’s
102 because I mean if you do drop here you’ll probably start bouncing from here I don’t see this as a real level I just see the last real low as the first level of support after that you’re going to have very strong support so around
96 You’ expect 100 to be a level but I just I don’t see it despite the just the round number that it is so yeah 96 it should be this level here but more importantly you’re can you’re starting to coincide with this major ascending major
Ascending uh so if it goes below 96 it could be 90 below 96 it’s just depends how long it takes you know um but the generally speaking it’s the ascending huge support so on the way down support is 102 and then I’m going to say 95 996 is metala this one is absolutely
Fascinating one sorry $3 is just I mean it’s a big round number I get it but every time it dips below it it’s just held so well look it you know it was testing this level long before the GDX started to get smashed in the face and
Then the Smashing starts to happen and look at it just dips and it closes above it was that one day I don’t know if it closed below three I don’t think it did but it’s just $3 it’s just obvious support and I’m surpris I’m really surprised that the Gap didn’t
Fill um given the smash that happened you know whilst we were at three so incredible support at three if we do drop it’s going to be this 290 Gap field if we drop low it’s going to be this horizontal 270 roughly on the way up and
I expect any bounce uh to be reflected immediately in metala because this one you know what doesn’t go down will go up so 320 is the first level that’s probably some intraday support um I mean you can see right it hit there it opened there it sorry it closed here
Just below didn’t close above it opened the next day so for me 320 is a pretty obvious mini level once you close above that I think you’re going to go much higher so 350 360 so there you go I’m leaving that in perfect but it’s another streamer and honestly it’s actually
Outperformed weaton and frankco noada on the way down because it just hasn’t gone down a single sent so but look where it is you know also already been destroyed long ago so very good candidate for bounce blade first Majestic now we’re entering the the silvers so we’re done
With the streamers I added to this one um 62 62 63 yeah it was 6263 look at this Hammer though very nice you know closed really high compared to the the day before we also went lower than this one and closed higher than than this one you know so
It’s not an engulfing not a bullish engulfing but it’s pretty close actually so very nice reversal it’s been destroyed you know we’re at the absolute lows look where we are look at this ascending from where was this to this is over a decade ago over a decade ago
Right this is like 15 years ago kind of stuff huge ascending support which is just intertwining right where we are then we have this Cor a low pretty close and we’ve got the lows from down here pretty close so between 420 and 460 you have huge you have three right one two
And obviously the third one that I haven’t drawn is the one from from recent times so this area is just a difference of 30 cents and it’s massive support it should be and and to my to the best of my knowledge it is so look we’re bouncing we’re reversing already
Just a few cents Above So This should bounce BCE where is resistance by the way I’m not going to talk about anything below 420 I don’t see it happening and I I mean it would probably be $3 but we’re not going there yet I don’t see that happening and if it starts to
Happen I’ll cover it before it happens on the way up maybe maybe this level here it’s difficult to say 520 the next major resistance for me is this level 540 um you could have a little 520 I’ll just put some small line there just in case I’m switching to the Chart just to
Know very quickly but I see nothing yeah $5 you’d expect so but besides being a psychological number and besides this closing near five and this one opening below which is something I just I’ll put it in but I really in the grand scheme of things you shouldn’t be buying an absolute
Multi-year you know decade plus low just to sell it a f see look how ridiculous that looks so and I’m starting to take a more zoomed out strategic approach anyway I’ll leave it in but I don’t see any major support until major resistance until really 540 to be honest uh and
Then obviously you start to encounter the other horizontals up here the high and then the Gap fi and then and then yeah obviously 657 we need to crack seven that’s really $7 would really do it that’s a squeeze that’s the low is in you’re never going to see it again kind of
Move right ex um no sorry Fortuna want to keep the same anology structure right Fortuna this one really underperformed on that Friday um he had bad news was it bad news it’s interesting I listened to Peter shiff the other day and he bought Barrett gold and Fortuna on the
Drops and so did I so I bought Barett gold a little too much like I said right 10 times what I wanted to do so that’s a bit too much but at least that was after the drop um and I bought Fortuna and I bought first Majestic I ned on K D I’ll
Get there what else panamerican silver AO I actually nibbled on basically all of the good ones so anyway Fortuna though kept on going down I didn’t expect that so it was a very bad close but at least it closed above three uh I’ve got this as a level now
It’s a rough level you can see why it was it’s not the best though is it it’s like support there and there resistance a little bit but the resistance was also I feel like 310 was more of a level in the past but actually the last two days hasn’t been a
Level at all so is it three I mean it’s a big round number but if we start to go below three that would not be good um that would be that would indicate the miners are still going down or maybe is Fortuna because it was such a bad close but I do
See 280 as the level you know look at this I mean every 10 cents is kind of a level you know you got this here got these little candles here but otherwise during all of this sideways action it didn’t really it wasn’t really a level
Was it 290 but here you know it hits it there hits it there a little bit there definitely there so that’s why I’m saying 280 is more of a level than 290 and also it’s like the midpoint between the absolute and more obvious low here right 260 is a very obvious
Low um so this is also a convenient midpoint so I’ll leave that one in but very ugly very ugly clo I mean look all the other ones are reversing looking like a bounce is imminent this one you know imagine the miners are up I can’t imagine this one having a beautiful
Candle I feel like it’s going to flush three and then maybe close above three maybe has a good candle but you know all the others would have done more of a move up so this would be up like 2% the other ones are up five or something
Or six so but look this should end up being an area where it can curl from so it’s allowed to go below hopefully close above three and then curl on the way up I would just say that 340 before the Gap fill then 350 big round number prior
Support and the Gap fill so 350 definite resistance but maybe 340 just beforehand and after that I mean it’s going to be very hard to go through all of that especially after bad news it’s bad news isn’t it I think it is um so it’s going be very difficult
But we0 so those are the levels I’m looking at exk Jesus Christ well this one actually that I’ve detested uh consecutively I mean look at this this one has not gone down as much as the others it’s a sign of a stock that’s just just been completely oversold relentlessly and this just not
Enough sellers anymore so a bit like well not like metala but it’s really outperformed on this drop and it’s just been the most underperforming stock ever so that’s a nice change I mean look how much has it gone down really from 180 to one yeah okay basically to 170 right
It’s dipped it’s toes below but basically from 180 not even just below 180 to 170 so just not even 10 cents but about that about 10 cents of a drop so now we’ve got a bit of a hammer and honestly it could pop to to 190 um this
Used to be rough support it’s not really now actually for me resistance is the descending that’s it there are no horizontals it’s just the descending very clear resistance look at that beautiful perfect realistically speaking so nice Hammer you know du for a bounce will bounce with the sector and it’ll
Probably encounter resistance just at 190 or 180 9 or something that’s what I think if you close above the descending I don’t see two as resistance at all bit like before I see the next resistance is 230 and then everything else you see maybe this descending will come into
Play before this one here right so 230 and then this level here so let’s close Above This descending then let’s see about 230 and then let’s see about this and to be honest if we get all the way up there there’s probably a huge rally taking place because the XK never
Rallies on the way down honestly it’s it’s kind of proved that it’s not going down too much but let’s say the whole sector flushes for whatever reason I don’t see much support until you see this little Gap here I don’t want to this little Gap here 150
Maybe because one you know 140 where I’ve got it here 135 it’s quite far away I mean that’s a huge drop doesn’t look like much on the chart but from 170 to 135 that is you know 20% drop for something that’s already dropped and it’s kind of stopped going down that’s maybe asking
Too much so maybe 150 okay exk is done next one is K my favorite normally my favorite for the way up and for the way down it’s my least favorite but this one is actually doing okay I mean all things considered it’s dropped definitely dropped I mean how much is do that have
A drop that’s from the high to the low 30% that’s okay for K given what’s happening you got Barrack down 12% in one day that’s that’s okay um so we’re holding this level here nice little level 260 you can see it was resistance here not so much here but
Yeah well anyway right now it definitely is you can see the Tails it’s closing just above it if we do keep dropping this one’s hard to call the levels on the way down but too 40 is what I used to have I pretty much agree with that and
Then yeah $2 or just above $2 I doubt it will go to two so I’ll I’ll leave it here so yeah I still agree with those now I do think we’re going to have a bounce I think K will be one of the best uh best mins binders to all one of
The best miners to own for that bounce and the next resistance on the way up that I can see clearly I mean there’s a mini Gap here but trust me when this moves it won’t just go to it won’t go from 260 to 270 it’ll
Be more likely to go to $3 I didn’t know that was $3 it’s just the obvious next resistance and it’s a nice round number so $3 and after that yes Gap fill 320 and after that yes 350 370 okay there you go that’s K honestly it’s
Surprised me it hasn’t gone down as much as I thought it would uh recently I mean this drop here actually was worse than I thought but then uh it started to stabilize but the sector flushed so quite Nic here I think I’m looking forward to seeing how much that one goes
Up when we do bounce okay Discovery silver yeah nice that’s a support roughly 50 cents big round number also obvious support from the last drop over here I just wanted did actually flush below and closed below it I didn’t actually notice that but $50 roughly is a range is a
Level now if we go lower yeah I remember this 4540 nice and simple I just never add that 45 but I don’t see it’s going to 40 at all at all um and so if we do go low I see 45 now on the way up I’m just wondering whether this
Little 54 is a level very small level very small so the line will be very short there now otherwise we keep going up yes 62 I don’t see 60 is a level that’s interesting let’s see 60 actually 61.5 62 and then this one here 65 yes okay I agree with that it’s
Good to leave your your last lines in saves you a lot of time so there you go those are the horizontal levels uh next one is I know I’ll check that one later later okay next one is yes cuz I actually I forgot to mention this but I
Liquidated some Juniors but I never mention the Juniors because they’re worth very little and I don’t like to cover Juniors not many people have the same Juniors um I will mention I’ll mention that now so I had four Juniors they were called turmalina Renegade uh Raina and
Silver tier one silver light silver teer or something forgot what it was actually um they made a podcast just the day after I got rid of it actually that was silver tier or something silver tiger Jesus anyway those four um very little in it like $500 1,000 very small
Amount and honestly they were like down 50% or more and it was just old baggage okay silver tiger I held I I bought really recently like a few months ago but still already down 50% but the other I had for over a year and I was just
Thinking look these seniors are down you know 20% in the last couple of days in some cases and these Junior trashes that you know I always thought would bounce but never did they weren’t even down that much they were down like 2% 3% and there was a bit of liquidity in them
They were like I could hit the bid and it wasn’t that far away from from where the offer was the ask so I thought why don’t I just get rid of these Juniors then to be honest when they do go up they go up 20% Then they just and go
Even lower and why don’t I just put that cash into a senior that’s been destroyed so relatively speaking it was like it was a good deal it was selling something that hasn’t gone down that much selling something bad that hasn’t gone down that much to buy something
Amazing that’s gone down more so you know and you can do those kind of charts even here on trading view for example you could say um let’s take one of them for example um RSN so rain is Silvera RSN VF RSN VF slash let’s do um right Pan American
Silver so the last couple of days you can see Raina has gone up versus panamerican Sila so that’s one thing I did I mean you know I I liquidated the position and bought I bought several things but you know that’s one way of judging I mean you can do it anyway you
Could see rain has gone down 3% pan America’s gone down seven and you know you know you’re outperforming but it’s just something useful sometimes anyway not to get too sidetracked off topic the next one I wanted to check was Aris mining now this one has outperformed for a long time it popped
Before everything else did it’s really done very very well it’s a great company it was forced to come down the last few days now I wanted to buy it but I was buying the the others um I think this one wants to break out really it’s just the market the sector forced it
Lower I also see a lot of these other ones you know Pan America I’ve shown you them already they’re absolutely destroyed to their absolute lows so although this one is really good really good bounce play and probably will go up maybe even more than these so it
Probably still is worth buying I just can’t buy something that isn’t even at a really strong support I mean this is this is going to support this is this is going to act as support we are going to bounce if the market bounces but I just thought the others were a
Better buy basically so yeah it’s uh but anyway it’s a very good stock it’s a very good company it’s got extremely good upside if the if the sector starts to bounce and we start to see Aris mining close above 370 we’re going to go straight to 480 these are
Huge moves by the way I mean not from where we are but just imagine that move from 370 all the way up here that’s 30% and that’s no resistance and there’s more upside right keep zooming out uh this is AIT deceptive but you know we do have more upside in ours mining even
After we reach 480 so this has huge upside but I just you know the others they’re more senior they’re more recognized and they were more destroyed so I bought those instead of this one but if we do keep going down this is one that I will nibble to to be honest I did
Want to nibble it towards the end of the day but I just I don’t want to say I ran out of time I don’t like to buy stocks in the last 10 minutes it’s just a little crazy but yeah so support for me where we are
Is support it can go a little lower you know can to 270 is you can see that’s like a breakout zone so 270 to 290 the whole area is one area of support and it’s all a good Zone to buy because this will go up if we keep going lower 250 I
Do not see it going down here if it does water a steel if it goes lower 230 anywhere below 250 is just a a buy now on the way up resistance 310 funny enough not three 310 you can see here it was here support support support So 310 and after that honestly
340 after that we’re going to check out mag silver this one is tight competition with exk for being the worst stocks I own now mag did go lower than exk underperformed it did flush basically from 10 oh no not from 10 let’s say from when did the flush really happen from
970 is down to 9 even went below nine um let’s check the levels below that I mean I haven’t actually drawn any I guess I would be watching GDX and and gold and silver but I guess the real next level of support is a low from down
Here let’s say 730 because eight besides being a round number I don’t see much if we look at this let’s look at this Zone you know eight not really yeah you know the low of these candles where it curled and moved up from so let’s say
7 30ish we’re not going to go there I don’t care how bad things get that’s just a bit too much um now on the way up yeah so prior this is not a good yeah this level here so 960 it’s hard to Call 970 is give will take
10 cents 970 give will take 10 cents um yeah let me get rid of that there you go I mean you can see it’s all kind of between 10 and 960 bit of a level um I’m just wondering where we have a little Descending I don’t like this stock anyway but anyway 9 60 70 after that a it’s hard to call 10 this support that resistance big round number okay 960 and 10 I’ll just say this is really zoomed in stuff after that really nothing until 1120 maybe 11 at this point seeing how things
Are and then after that this absolute 122 for me this area this 1220 is a big resistance because that was the last move up and we’ve gone lower since then and to be honest by the time we get there we’re encountering the descending so for me 1220 is huge
Resistance okay Ma Silva now ggdf go Gold this one is not doing as bad as the others so we’ve hit for me what is clear support 8 fiveish is that right 85 yeah 85 86 uh which is all right right we hit support there there back here and here we are once again here nice candle right
Compared to the other two very nice ready to rock up to I don’t know actually one just below $1 honestly if you’re here around 95 you’re probably going to squeeze through one I don’t see any resistance until 113 112 113 but that’s huge resistance not only are you going to encounter the
Descending which is actually before 112 so let’s say 1 111 right between 111 and 113 um you should have this descending and the horizontal so very strong resistance around here and that’s the only one once you close above that once you close above 114 just to be sure you
Go straight to 130 on the way down you got this one here at 76 after that yeah this as you can see here was resistance bam we just screamed up so let’s call that 68 okay SP spsw Sian is still water this one here I bought in the low fours or
Mid fours actually mid fours I forgot actually roughly here which is where we are now maybe we’re trading a little below and then it popped all the way up here I think I bought back here my average I believe is 470 480 we’re trading around 450 at the moment anyway
Right now I see support as pretty much 440 right you can see this level here look at these candles also where we bounced the last 3 days now on if we are to go low I think the low we put in at four is the last and next level of
Support also happens to coincide with the descending which definitely is a level because it definitely counted on the breakout look at that the day we broke out we gapped up and we just squeezed up and yeah so if we come back down it’s going to coincide with the
Horizontal so $4 definite level if we lose 440 on the way up I guess this recent high would be a small level maybe I’ll put it as a Midway Point we’ve got a bit of a gap here Gap here so between 470 and 475 or whatever let’s just say
470 is is a level we take this out we can probably go to five bucks that was a level bit of a level of support here um and also will be this ascending uh resist resistance because this is ending so let’s go through it it’s $4 440
470 five and if we keep going it’s probably going to be 540 and then finally 580 there you go but remember zoom out in the grand scheme of things this thing here is pretty much at a bottom let’s say and there’s a lot of upside but who
Knows you can always visit further lows and you got this covid low of 350 let’s say I mean if the medals keep going down and this one is you know this one’s not just gold and padium it’s Platinum there’s lots of different I think it’s rodium quite a few different Metals
Involved in this one this is more of a battery play actually now that does it for my stocks let’s go through subscribers stocks starting with El Dorado this one’s held up very well actually you can see it’s just bouncing between these two ranges 133.5 and and and 11.8 so actually it’s
In the middle of the range I wouldn’t say it’s at a support I wouldn’t say there’s I mean you could say 13 is a bit of a resistance but really 13.5 should be stronger resistance than 13 if we go higher than that then we’re making new
Highs that we haven’t made in weeks and that’s very impressive especially compared to other stocks and then you got basically 14.5 which is your line of the sand because after that you’re going up towards 19 I remember that if we are to start Clos closing below 1180 maybe 1170 to be
Sure and it’s hard to tell but if the whole sector is really flushing this may go and visit 10:30 but this stock has been really performing well for a long time ever since this move up it’s been outperforming on the way up and outperforming on the way down so very
Nice next one is Heckler now Heckler has been finding support at four bucks just below four let’s say it’s been closing at four so that’s nice but absolute support at 390 if it goes lower you got this very clear 360 level and below that about 340 I
Guess but I don’t think we’ll visit that I just have a feeling we’re not going to go much lower next week in the miners but what sorry one thing I haven’t really considered is what happens to the miners if the markets can’t go down because you know markets have made new alltime highs
Miners haven’t really gone anywhere except down but that’s really because the DX Y and yields but what if Market start to flush what happens to miners you do not want miners to go down with that but that’s a separate topic so 360 3904 on the way
Up yeah 4 40 it’s always been hard this one I’d say 440 if we keep going up then I suppose before you get to the Gap you got these two tails up here let’s call it 450 okay 450 yeah so 440 450 470 just little levels here I mean if you’re really
Wanted to get if you bought down here and you want to get out I you know machine gun my way out in these three levels here but of course the strongest resistance will be five or actually 510 so that’s what I seen Heckler Heckler is the one stock I want to own
That I don’t I’ve really I think I own all the stocks that I’ve wanted to I mean there are some other stocks I don’t usually go through it the ones over here kin Ros Harmony Ang gold goldfields iron gold Nova gold Equinox these are the like the other the seniors that I like
But they’re I don’t know they just haven’t gone down enough or they’re not at a level um or maybe I just haven’t reviewed them that much I am actually considering just adding these to the list of miners that I review during my weekly portfolio review because then I
Cover everything that I’m interested in to and therefore I don’t need to do any extra homework after this video but anyway that’s something for me to consider on my own so after Heckler and this you know good time to get in now it’s a good starter position but I was I was
Thinking of getting rid of exk or mag swapping those for Heckler um but I prefer to get out of those on the way up rather than on the way down so maybe I should be adding the Heckler now in anticipation of a move up and then
Selling exk and mag when I think that move up is done so you know legging into Heckler and then later legging out of exk and or mag something for me to consider okay after heck we have B2 gold this one has been underperforming for some time it’s flushed this support hasn’t gone
Down too much you know a lot of these that have been underperforming they haven’t gone down too much at least there’s that one positive takeaway for me it’s not really at a level at all uh it’s just the GDX is curling so but remember the GDX the gdxj and all the
Other ETF stve you know their Friday candle was better than the last two Wednesday and Thursday that’s not the case here so if we do go low I think it will go to 280 that’s a very clear obvious support level if we lose that then this 250 or just below 250 should
Be very strong support very strong this long-term ascending also you know you’re coinciding with some covid lows so this should be really strong support and I actually read an article on this recently um suggesting will be very good long term so I actually might be interested in buying this if we do flush
To new lows but then again what are the other miners doing right you may have some senior stocks that are even more attractive right ssrm wow I didn’t see this so this one closed at an absolute level as far as I can tell okay it’s not the mother of all
Supports but look at this this is the second lowest daily level we visited During the covid period so 980 I’m surprised it’s gone down more I know the sector’s gotten crushed but this one was already underperforming so I saw this sort of support here at 1020 I
Guess it was and look at that close that hammer close was good but yeah the sector just went down right Newmont Barrack all got smashed so the whole sector went down gold went down I think this just had to go down you’re not allowed to go up when the sector’s
Getting crushed so now we are now to an even better support 980 is better than 1020 well although there’s not much difference when you zoom out it’s the same thing but to me we’re at support um it’s a shame it closed red though you know it had a red day when
The others were kind of unchanged green so there is that to consider next level down is $9 that’s that’s almost 10% away though I don’t know if we’ll get there but that’s the co low that’s a very strong level and this has been crushed and this
Is not exactly a a junior stock this is a wellestablished uh senior in my opinion so in interesting quite attractive down here I must admit um so yeah $980 $9 after that you got this $ eight Zone yeah I guess that makes sense just below eight I don’t think we’ll be
Crashing through the co lows that eily though so I think it’s very attractive where it is to be honest at least for a bounce resistance is this descending it’s a bit like exk the descending is the resistance so imagine we start to go up that will probably be 1050 by the
Time we get there if you’re able to close above it 12 definitely 1250 between 12 and 13 I’d expect serious resistance depends how long it takes though you know because you have this major descending so quite a few Little Resistance points on the way up first one is this ascending this
Descending then I would say this horizontal is the clearest one and then you’ve got the prior support to be resistance and the major descending so lots of resistance that you can use to to to sell you know in front of um I believe that’s it so let me know if
You have any other stocks you want me to cover me personally I actually am considering covering all of these so kin Ros Harmony Anglo goldfields I am gold NOA gold Equinox maybe some of the others so let me know because I I intend to rearrange this list a little bit so
Anyway I hope that’s useful it was not the best week at all um but it’s an opportunity to get out of some crappy ones and add to some good ones maybe you know and if you look at the way I did when I was mentioning the Juniors
Getting out of some crappy Juniors and adding to some very good seniors that went down less that’s that you know that’s that’s one decent way of rearranging your portfolio which for the long term could be very very profitable um so anyway let me know how you felt about
That like it share subscribe and all that stuff and sorry for the back ground and have some family movement enjoy your weekend
1 Comment
Kinross and Equinox are good