Since the big silver pullback the metal hasn't been doing much, however the stocks aren't doing much since then either. We're not seeing a big move to over $30 for right now. Platinum has hit $1300. Silver has been holding up better than gold for the past several months. Corrections and consolidations in the past have shown silver has often held up better than the yellow metal. You make the big money by riding the trend. The big big move is ahead of us. Could be two years more or less. Focus on the big picture. A little more time. Platinum trend looks beautiful although Jordan confesses that he's not the expert on this metal. There's resist at 1400-1500. Copper has also made the huge move. Jordan sees crypto as no threat to the precious metals sector. Crypto's returns have far eclipsed PM. Gold made a huge move last year, a spectacular move going from 1200-2100. He's not concerned about the prolonged correction. This is how these markets work. Look for a huge crypto correction, half a currency and half a tech stock. There's limited history for cryptos. Regulation is coming. Insurance or a lottery ticket, best way to look at it. You need to be careful.
Mining stocks have probably hit a bottom. It can take a while, but when it happens, it will often take the market by surprise. Not enough sellers left in mining stocks, time to be buying. Next move up probably later in the year or early next year. Jordan's not fearful of a March type correction since he believes that gold and precious metals will hold up better than most are expecting.
Jordan Roy-Byrne, CMT is a Chartered Market Technician and 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 the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.