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Jordan Roy-Byrne: Gold Just Reached Major Inflection Point – Big Move Coming

Jordan is still bearish and on the sidelines in this market, for him to turn bullish he needs to see gold make a strong move above $1300. It’s currently breaking a bit above the trend line, but the overall sentiment is still largely negative.

For a rally in mining stocks to occur he would want to see higher prices in the ETF’s.

The bearish perspective is that the dollar is very oversold, it’s reached 13-month lows, and it’s likely to rebound. Gold traded sideways during this decline and against foreign currencies, it has been quite weak. As a result, gold may get hit again when the dollar rallies. Jordan thinks there will be some sort of inflection point in junior mining stocks in the weeks and months ahead.

He discusses trading strategies for dealing with mining stocks and how having some cash on the sidelines is healthy. Exploration companies are outperforming and there are some good optionality plays. Triumph gold looks fantastic as such a play.

He examines the Canadian dollar, the potential housing bubble is a potential looming problem. The Canadian dollar looks to have been oversold, it could move up a bit more, sentiment for it is really bullish right now.

Talking Points From This Week’s Episode
• Dollar rally appears increasingly likely.
• Triumph Gold is a good optionality play.
• Canadian dollar may continue to perform.

Jordan Roy-Byrne, CMT, MFTA is a Chartered Market Technician and Master of Financial Technical Analysis who is a member of the Market Technicians Association. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for precious metals investors. He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market and his 2017 Gold & Silver Outlook which are available for free on his website.