The banking crisis has actually moved the landscape for rare-earth elements, and it’s not over yet.
That’s according to John Feneck, portfolio supervisor and expert at Feneck Consulting. Speaking with the Investing News Network, he stated he’s made changes to his portfolio given that early March, when the collapses started.
” We upped our position in gold and silver stocks greatly after March 8, and we at the same time shorted financials,” Feneck discussed in the interview. “We stay brief all those financials today, which’s exercised terrific.”
Feneck was speaking on Might 15, when gold was above US$ 2,000 per ounce, however he stated a pullback to US$ 1,900 would not be unanticipated and would most likely be healthy. Ever since the yellow metal has actually dropped as low as US$ 1,955.
” I believe your significant assistance levels are that US$ 1,790 to US$ 1,800 variety … and after that someplace in the high (US$ 1,800 s) ideally would hold– perhaps like US$ 1,850 even,” he stated, keeping in mind that the yellow metal continues to make a series of greater lows. “However appearance, even if things go to US$ 1,850 I believe you’re still going to strike US$ 2,100 here within 6 months approximately.”
When it pertains to silver, the story is various. Feneck stated the white metal is dealing with relatively considerable resistance at US$ 26.50 to US$ 28 per ounce, a level that it just recently checked and once again stopped working to press through.
” It’s actually aggravating for me and other financiers since we wish to see that level broken. I believe we’re going to get that this year, once again within 6 months. However the huge round number to search for is US$ 30– when you get to US$ 30 silver and you break that with some authority, suggesting a number of closes above US$ 30, it’s go time in silver stocks,” he stated.
” Financiers are going to want they were placed since it will take place faster than individuals anticipate.”
See the interview above to hear Feneck’s ideas on Guanajuato Silver (TSXV: GSVR, OTCQX: GSVRF), Ascendant Resources (TSX: ASND, OTCQB: ASDRF), Copper Lake Resources (TSXV: CPL, OTC Pink: WTCZF), Consequences Silver (TSXV: AAG, OTCQX: AAGFF), Stillwater Vital Minerals (TSXV: PGE, OTCQB: PGEZF), Online Forum Energy Metals (TSXV: FMC, OTCQB: FDCFF), Silver X Mining (TSXV: AGX, OTCQB: AGXPF) and Shift Metals (TSXV: XTM, OTC Pink: TNTMF).
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Securities Disclosure: I, Charlotte McLeod, hold no direct financial investment interest in any business pointed out in this short article.
Editorial Disclosure: Ascendant Resources and Online Forum Energy Metals are customers of the Investing News Network. This short article is not paid-for material.
The Investing News Network does not ensure the precision or thoroughness of the details reported in the interviews it carries out. The viewpoints revealed in these interviews do not show the viewpoints of the Investing News Network and do not make up financial investment suggestions. All readers are motivated to perform their own due diligence.