TheDailyGold: Super Bullish Cup & Handle Pattern is Intact...

Published: Fri, 02/17/23

The Daily Gold
Jordan Roy-Byrne, CMT, MFTA


Friday, February 17, 2023


Good Morning!

Although Gold has pulled back and the short-term pop in yields and additional strength in the stock is a near-term concern, the super bullish cup and handle pattern remains intact.

That's not perma-bull speak. It's a fact. Gold could drop to the $1600s and the pattern would remain intact.

In the video below I analyze the pattern and my own expectations. 

Click Here to Watch the Video

There tend to be quite a few false moves at major turning points in Gold. I provide several examples in this article.

Keep that in mind because weakness in Gold over the weeks and months ahead, if that plays out, could end up being a false move. 

Again, not a perma-bull comment. Just look at the facts and recent history. 

Click Here to Read The Article



This chart plots Gold's performance around recessions.

The 0 is the start of the recession. The red line implies the recession started at the start of the year. I do not think that is the case.

The path of the red line could make sense if Gold were at the -150 or -160 day mark. 

Recall the chart from last week which projected recession to hit in the summer. The black line and the gray show the path Gold should take when the recession hits.  



In TheDailyGold Premium...

In TDG #817 I unveiled part of a larger watch list. 

This included the company's market cap, cash position and a paragraph of notes. 

More will be added to the list this weekend. 

Use this weakness to accumulate the juniors that have the best combination of 1) highest quality assets and 2) upside potential.   



Thanks for reading. I wish you all great health and prosperity in 2023.


Disclaimer: This newsletter is intended for informational and educational purposes only and should not be considered personalized and individualized investment advice. Investment in the precious metals sector contains significant risks. You should consult with an investment advisor and do your own due diligence before making any investment decisions. This email may contain certain forward looking statements which are subject to risks, uncertainties and a multitude of factors that can cause results and outcomes to differ materially from those discussed herein.  


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