Commodities Update: Technical Analysis: GOLD AND SILVER MINERS STRONG

Commodities Update: Technical Analysis: GOLD AND SILVER MINERS STRONG

hey everyone hope you’re having a good
day my name’s Andy my channel is finding
value today we’re going to do our daily
technical analysis update with
commodities we’re going to dive through
the dollar yields precious metals and
commodities ETFs that I follow I’m going
to interject my financial opinions as we
go and if you need help with anything
check out finding hyen value.com that’s
where I dive deeper into these sectors
deeper into the individual companies um
and I give and share my portfolio what
I’m buying when I’m buying it and all of
those things uh we have a discount code
leap still going on
leap let’s dive in let’s take a look at
what’s going on today and again I start
with the dollar and the dollar still
looks good to me um so when I look at
this I see a structure that’s broken
right here we’ve broken out we’ve done a
retest and yeah we’re getting a little
bit of pressure in the short term uh but
since we’re so close to the structure it
makes me think that this is more like a
flag pattern that’s ready to break to
the upside with time makes me think that
we’re going to get stronger yields and
potentially stronger oil and the market
is kind of lining all of that stuff
up so I’m going to remain bullish on dxy
thinking it’s going to go higher
until we get evidence uh that we are
going to turn lower now that could
occur in one trading session where we
just you know lose it uh not saying
that’s what I project I’m just saying it
can change very quickly yes the data can
change quickly and I can change my mind
quickly but at this time everything
still looks good to go higher uh the
two-year yield we’re getting some
strength today in yields going up and
that still looks good to me for yields
to continue higher I don’t see any
reversal candlesticks here that are
causing me
concern and yields look to me like they
are going to continue higher and that
this is potentially just a channel that
we’re going to punch through the 10year
yield also moving higher and we’ve
broken the upper trend line here to the
upside we used it as support so the
breakout the support uh and this to me
looks like we could continue higher and
then the 30-year yield also higher today
and we are up against a little bit of
resistance and we can see the Wicks at
the top there with the
candlesticks so I’m a long-term investor
here I just watch this stuff I used to
trade shorter time frames and I don’t I
don’t trade anymore I’m more of a longer
term play the big picture view Trend I
think the big picture view trend is
still yields uh have the potential to go
up now if the market does slow down
could there be a chance that we get a
pullback very well could just like we
did here uh we had a nice little
pullback in
yields but I don’t know how sustaining
and how long we will pull back for I
think they’re going to be shortlived and
I think the overall trend uh is is going
to be
up we’ve got tyx tnx ratio this is the
ratio that I use to identify
if we get a strong Tailwind behind gold
this Tailwind hasn’t been needed by gold
recently uh but we inverted further
today and I saw gold was up a little
bit but we are staying inverted down
here higher yields and the way that the
yields interact with each other
depending on the 30y year versus the 10
year in this case is causing this
relation ship to move back and forth um
so I think this is an excellent spot to
be looking at precious metals where it’s
located bond prices down still again
we’ve got this momentum lower and that
hasn’t changed yet um and and again if
we see it change I will let you know but
it is still lower at this time for bond
prices that’s the 20 year we don’t have
a lot of support underneath us guys I
mean this thing could get pretty ug
where yields start continue to go up and
uh prices go down for bond prices and
then the 2 and10 uh we’re still inverted
we are getting some uninversity
gold um up $6 an ounce it’s got a little
little bullish engulfing we’ll see if
this sticks uh and if we can turn this
thing on higher uh but we’ve got big
selling pressure here and we still need
to make the turn so the momentum the
pressure and momentum is still to the
downside unless this was a ShakeOut move
to control gold and hold it lower then
we wouldn’t see follow through in it we
would see it behave like this and work
its way on up if someone’s trying to
push it lower silver again we’re moving
sideways generally in a free market move
you’ll see follow through with this um
that just like this reversal Candlestick
there’s follow through behind it but as
you notice we have broken to the
upside of the trend line and we’ve got a
pullback here
here and if that’s not legit if they
were just trying to slow the move I
think that we still have the upward bias
buying pressure Platinum looks like it’s
trying to put in a bottom here it’s a
bullish engulfing this actually looks
really good for a potential move higher
I like Platinum right where it’s at and
then Palladium we’re down against
support um I think this looks good too
uh again I think this is going to take
some time though I think it’s gonna take
some time to base out before rip into
the upside I don’t think it’s going to
be a a V bottom and if it is I I think
it might come back up multiple times
like this and retrace to that support
level the support level uh is at $900
roughly X to go ratio looking very good
today a big strong move uh over the past
few trading sessions of gold and silver
mining companies outperforming gold
itself so I think we are ready to launch
here guys
and this could be like
lifechanging if because the sentiment is
so bad in gold and silver mining
companies and we are at such a low
valuation level against gold um in fact
I don’t think it’s been this cheap for
ever over 100 years ever type style so I
think there’s a lot of potential here
for investment in the gold and silver
mining companies that people are just
sleeping on and we’re stting starting to
see it break the downtrend line for
happiness this is where everyone’s going
to get Happy who are owning gold and
silver mining
stocks CRV index up a little bit looking
pretty good um not much selling pressure
in here so I still think we’re going
higher it looks pretty damn good to work
its way on up uh we’ve got crb versus
the S&P that is also outperforming today
up 65% and that still has momentum and
looks good and hopefully we can break
through this this pattern that we’ve
generated GDX up 3.65% putting in
another bullish engulfing right
underneath resistance looks pretty good
if we can punch through uh gdxj is
already punched through and I think it
looks pretty dang good to continue
higher uh we’ve got kind of a flag
pattern that we’ve just kind of broken
out here recently so looks good silj
also looking pretty good another flag
pattern that’s breaking to the upside
and again guys I don’t try to play this
the short term uh you just get in here
at the bottom and you wait you might
have to wait a year for a good you know
a year from like here to here you buy it
all through here and then you break out
um some people will say well how do you
know it’s not going to break to the
downside well we’re super cheap we’ve
got the right market conditions etc etc
etc uh crude oil up 1.2% this also looks
really good um nice strong Candlestick
it finished real strong it tried selling
off was not successful at selling off
and this to me looks like we are going
way higher uh if we continue to to print
and spend money the way that we are it’s
going to put oil into a shortage and
we’re going to see that in deficits in
our inventory which is going to push
crude oil prices
higher ttf gas up 3% looks pretty good
this is your retest I like it I think
we’ll work our way on up slowly natural
gas still down I know we’ve got a glut
here it’s going to take some time to
work this off and that doesn’t mean that
the equities the natural gas equities
they going they’re going up today quite
substantially I think natural gas will
turn around we have a wall of takeway
capacity coming it’ll it’ll work its way
out uh our boy xop yeah you know me up 0
42% and I think this looks great we are
basically broke out came back a little
bit towards the neckline of that uh
inverse head and shoulders and I do
think we are going to head higher uh
with crude oil and there’s the neckline
there that I’m talking about we’ve got
oih also up today uh couple of bullish
candlesticks through that that square
there there’s three bullish engulfing
candlesticks one here here and here um
not a huge one today but it counts and I
do think we’ll work our way on up here
shortly uh sprout with uranium trust
it’s holding on it’s holding on um
but this chart looks pretty bad guys I
got to admit we came in we entered from
the top side down we came on
up and we’ve broke into the downside
retest this still looks like we could
potentially head a little bit
lower
so that’s that’s what I see at the
moment Ur nice little reversal
Candlestick here and again guys this can
change to the upside so rapid that the
probabilities of success of shortterm
technical analysis is not high enough
for me to actually sell out of this I am
not trading any of this I am playing
this long and not trading at all I’m
just sitting in it so this still looks
good it looks like we’re trying we’re
going to try to work our way on up and
we’ll see if they’re successful &m
working sideways right at support
there’s a lot of support through that
Trading Zone
and then urj also at support we’ve got a
lot of support through this entire Zone
there and we’re sitting kind of right on
top of
it will this pull on back with the
Sprout physical uranium trust difficult
to
say tan uh higher rates it doesn’t like
higher rates guys so this still is down
in no man’s land and I don’t think these
a lot of these companies are that
profitable so still looks pretty weak uh
copper looks really good it’s just
flying to the upside deficits are
starting to eat through inventory and
inventories are getting real low uh
we’ve got the three hump consolidation
there and we are
ripping so that looks really good so I
think it’s going to continue higher copx
up 3% again this looks good we’ve
recently broken this um squeeze up in
here to the upside and you know what I
do I do nothing I just sit in it and
make money
and if you’ve got these big dividend
payers companies then you get dividends
and collected along the way as they go
up and appreciate which is
great lithium up a little
bit um maybe we can get a maybe it can
put together some some upward movement
here it’s a bullish piercing
pattern and then rmx also putting in a
bullish engulfing maybe we can get some
it can put together a string of uh
updats here we’ll see there’s bullish
engulfing here bullish engulfing here
and so test so it could do that here SPX
down a little bit doesn’t look great uh
a lot of the times when you’re coming
down you’ll get upward movement uh
candlesticks like this on upward moves
they’re all facing
downward so I think that this could
potentially still head lower and NASDAQ
also you can see how this is kind of an
upward facing move
um that looks to me like we could still
head lower we were down 64% and usually
the pullbacks when you’re going up are
located uh this way so that’s what I’m
seeing here is it’s it’s located upward
which makes me think we still have
downward
movement uh left in the short term carry
right at support
resistance we’ve got Emerging Markets up
a little bit and I do think emerging
markets are going to do well remember
there are a lot a lot of commodity based
markets out there that are Emerging
Markets
xhb it’s sideways today for the most
part uh we’ll see if this can turn it’s
coming back to some support back here
we’re kind of sitting right on top of
that we’ve got moo another one that’s
got this upward facing Candlestick where
it could spill out a little bit more to
the downside back to the 7 $69 support
level potentially um Iron Ore also right
at
resistance there’s the resistance and I
do think that we will potentially uh
break it it’ll be a inverted Head and
Shoulders is what we’re looking at and
that’s a bottoming pattern psychological
bottoming pattern where we could head
higher nickel also working its way on up
I think this is It’s bottom guys it’s
going it’s going already looks good
aluminum
uh looks like we could get a little bit
of a pullback here in the short term uh
we have a big bearish engulfing here it
started here with the big selling
pressure Candlestick and then you can
see smaller up dayss into a bearish
engulfing here and another bearish
engulfing here so that does look like we
could potentially lower go lower in the
short term maybe back to this level
there Baltic dry index down a little
bit right on support it’s it doesn’t
look bad it’ll work its way on up
Newcastle coal we’ve broken the trend
line to the upside and I’m going to
remain positive on this uh for for an
upward bias for coal and that is a
retest of a breakout breakout and this
is your retest here and we’re going to
slowly work our way on
up and if crude oil goes up I think and
N gas needs to rebound I think coal will
Rebound with that gas might take some
time though Bitcoin is up
today still looks weak guys this
whenever you get this big strong selling
pressure and then the weak
bounce that’s where you could see
potential um downside action ethereum’s
got the same pattern it’s faced upward
the candle the flag pattern and it could
come back down here or something like
that we’ve got smci is up today it was
it was sold off the beginning of the day
it came back up it’s a strong
Candlestick today but we’ve got just a
ton of selling pressured candlesticks in
here so longer term this way shorter
term like very short term the momentum’s
to the upside we’ll see how long that
upside momentum lasts and then
Nvidia another one that’s got a barrage
of selling candlesticks in there it’s a
strong Candlestick today and maybe the
plunge protection team was in there we
gapped lower but it was the momentum’s
coming back up um but we’ve got all this
kind of medium downside pressure coming
down on it so we’ll see what follow
through we have tomorrow if it puts a
wick at the top and a little inverted
Hammer Candlestick we could see a small
Candlestick like this that doesn’t go
anywhere and then it rolls over we’ll
see we’ll see what
occurs uh but that’s what I’ve got for
today guys uh give me a thumb up for the
content subscribe to the channel uh we
have a Saturday question and answer
session coming up uh at 7: a.m. mountain
time uh but for the most part
uh if you look at the individual
companies that I follow um pretty mixed
bag to be honest there’s some that look
really good looks like they’re they’re
coming ready to turn and other ones uh
with earnings releases coming out um
didn’t meet earnings some of them pulled
back uh today so we’re getting kind of a
mixed bag out there with earnings uh
being released I saw I think it was Meta
Meta got hit pretty bad today let me see
what meta looks like
yeah there’s meta boom down about 10 and
a half
percent we got this Gap that’s going to
still get filled
probably U but yeah there’s been some uh
Carnage out there just to let you guys
know but that’s what I’ve got for today
guys I will’ll catch you next time this
is finding value

#gold #silver #platinum #investing #stockmarket #commodities #twitter
#uranium #oil #naturalgas

Weaker dollar with stronger yields today. The gold and silver mining sector looking strong today.

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