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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: Why Nothing Can Stop Gold Now....
Published: Fri, 01/06/23
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Gold has rebounded nicely. It has rebounded some $250/oz and even touched $1870 on Wednesday.
Gold does face significant resistance from $1870 to $1950. That will slow it down as it may take some time to chew through. But here is why the outlook for Gold is so bullish.... First, Gold is outperforming everything right now. Read my article below to understand why this is so important. Click Here for the Article Second, as I discuss in this article penned yesterday, there is little that can stop Gold now. Gold has faced historic headwinds in the last 9 months, and yet it's barely more than 10% from an all-time high! Click Here for the Article Here is a video in which we analyze two potential leading indicators for Gold. One you know of, and is a tried and true leading indicator. The other is open to your interpretation. Let me know what you think about it. Click Here for the Video ------------------------------------------------------------------------------------------- This chart from @QFResearch plots Gold and a few potential sentiment indicators. The net speculative positions is in the middle and the ETF holdings of Gold at the bottom. Look at where Gold is now compared to the three vertical lines in the past. Gold's price is essentially at the same level but now there are much fewer spec positions and ETF holdings. In other words, there still is a decent amount of potential fuel (buyers) to propel Gold higher.  ------------------------------------------------------------------------------------------- In TheDailyGold Premium... I am very bullish as we are on the cusp of not only a new cyclical bull market but likely a fresh secular bull that will run for at least a decade. I have been slowly adding to positions and over the last 5 weeks and noting, for those who were underinvested, which stocks to buy. It has been on the model portfolio page every week. I still have some cash as I've been too aggressive with the prices for a few of my buy orders. It is going to be a really good year for Gold & Silver. You know this sector is going to really move after Gold takes out $2100. We still have plenty of time until that happens, but you might want to prepare yourself by subscribing. -------------------------------------------------------------------------------------------
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