Jordan Roy-Byrne, Founder and Editor of The Daily Gold, joins us to share his technical outlook on silver, gold, and the precious metals mining stocks. We start off discussing the longer-term monthly charts of silver and the silver mining stocks using the EFT (SILJ), and that both failed at longer term moving averages and haven’t been able to break out of their trading ranges. Jordan noted that most commodities already peaked earlier in the year, the dollar has been rising, and this will likely keep pressuring Silver as well. He outlines the bearish sentiment in bonds had reached an extreme oversold reading, and expects to see more of a move back into the bonds, forcing yields lower as the Fed tapers. Despite the bearish backdrop for both silver and the commodities in the short-term, Jordan still sees the longer-term secular trend heading higher on a longer time frame.
