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Dave Erfle – Key Levels To Watch For GDX, GDXJ and SIL; All Very Close To Breaking Down

Cory
August 15, 2023
Comments (22)

Dave Erfle, Founder and Editor of The Junior Miner Junky joins us to focus on the precious metal stock ETFs; GDX, GDXJ and SIL. All are very close to key support levels that if broken could signal a further move lower. We discuss lower levels to watch, recent volume, moving averages and the chart of Newmont.

 

 

 

Click here to visit the Junior Miner Junky website to keep up to date with the stocks Dave likes.

Dave Erfle GDX GDXJ gold Gold stocks SIL Silver Stocks Technical Outlook
Discussion
22 Comments
    Matthew
    Aug 15, 2023 15:28 PM

    PAAS is up almost 20% vs GDX in the past 6 weeks…
    https://stockcharts.com/h-sc/ui?s=PAAS%3AGDX&p=D&yr=0&mn=11&dy=11&id=p88483260880&a=1480956473

    Matthew
    Aug 15, 2023 15:55 PM

    Silver looks good here. It pierced its nearly one year uptrend support as well as its 250 day MA before rising about 1.7% from its low. Based on the 19 day move down so far I’d bet that a break lower from here would be a fake out.
    https://stockcharts.com/h-sc/ui?s=%24SILVER&p=D&yr=1&mn=0&dy=0&id=p70324453473&a=1481049221

    Lakedweller2
    Aug 16, 2023 16:33 AM

    Opening was -$38 for my account. Group of algos located in Sasquatch cave in Northern Washington but were able to flee before capture.

      Lakedweller2
      Aug 16, 2023 16:55 AM

      New Schwab glitch: my account goes back and forth between about one_third and three-fourths reporting. Just click the mouse. I personally like only one-third reported as it shows a gain twice that of three-fourths reporting. I guess something is confusing the algos and they are getting mixed up which one to run. Humans need to take a look.

      Lakedweller2
      Aug 16, 2023 16:00 AM

      Contacted Schwab about the problem and they are completely out of tin-foil hats to send clients. I told them it was OK because the heat index was awfully high and I get a headache when I wear one.

    larry
    Aug 16, 2023 16:02 AM

    will NEM break the 10/30/22 weekly swing low…this week 17 million so far vs. 52 million in that swing…running out of panic sellers?…no idea…I feel no panic…maybe I should?….https://tos.mx/MiRcelX

    Lakedweller2
    Aug 16, 2023 16:19 AM

    Silver evidently picked up a batch of Covid. I would go to the Corporate Doctor at JPM and see if they have found a cure yet or are happy with the situation.

      Lakedweller2
      Aug 16, 2023 16:33 AM

      For those going to Jackson Hole, they are introducing a “waterfall ride” but it is catching everyone by surprise as they didn’t see it coming.

    Lakedweller2
    Aug 16, 2023 16:15 AM

    Intervention is becoming very concerning…seems to be sending a red flag that Central Banking has been overwhelmed by self inflicted corruption and can’t find the Exit.

    Lakedweller2
    Aug 16, 2023 16:57 PM

    Looks like “overbought” now means, the shorts have max out their short buying.

    Matthew
    Aug 16, 2023 16:21 PM

    I started buying CDE today but not yet calling a low.
    https://stockcharts.com/h-sc/ui?s=CDE&p=D&yr=0&mn=9&dy=0&id=p86896248701&a=1411121489

    alex
    Aug 16, 2023 16:01 PM

    thank you, Matthew, for updating on cde. good to know. fortuna is trading under book too, like many others.

    Lakedweller2
    Aug 17, 2023 17:50 AM

    I can’t decide whether to get a job with JPM or Blackrock as a serf. I guess I need to check their rental home prices.

    Matthew
    Aug 17, 2023 17:13 AM

    When GLD hits its 50 week MA it will also hit important speed line support and fill that big weekly gap from March in the process…
    https://stockcharts.com/h-sc/ui?s=GLD&p=W&yr=5&mn=6&dy=0&id=p85019192733&a=1215023802

    Matthew
    Aug 17, 2023 17:03 PM

    Looks like a double top + bull trap for GLD vs SLV (which, in case it’s confusing, would be a good thing for gold sector bulls in):
    https://stockcharts.com/h-sc/ui?s=GLD%3ASLV&p=D&yr=1&mn=1&dy=0&id=p25342886650&a=1482242315