Jordan Roy-Byrne CMT, MFTA ⛏⛏
8.4K posts

Jordan Roy-Byrne CMT, MFTA ⛏⛏
@TheDailyGold
Finding high quality Gold & Silver stocks w/ 5 to 10-bagger potential Master of Financial Technical Analysis 16 Years Married to my best friend, the best wife.


#Silver - Quo Vadis? The reversal silver had last week suggests that the lower bound of the pennant formation, in which silver has been moving lately, should be redrawn a bit higher. If it had closed the week above that formation we could even argue that the consolidation is over, and that it could rally from here (contrary to my prediction of a "boring summer"). But it didn't. Silver failed to break out of that pennant. It could still do that next week. But in my opinion there's a higher probability that it would break down. The pennant will morph into a falling wedge, as I've been expecting for some time, and we will have a meandering bottom along that gray line, in the $55-60 region. Again, I'm willing to change my mind if silver exhibits more strength, makes a higher high above $83 and challenges the March high of $96. But until that happens, the "boring summer" thesis holds.

Silver's 6-month triangle formation is about to find resolution. I believe, the coming breakout will go into the history of silver...















The Next Commodity Trade is Loaded. In long form: open.substack.com/pub/numinarese…















