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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: Gold Hits $1900 Resistance. What's Next...
Published: Fri, 01/13/23
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Considering Gold hit resistance, GDX & GDXJ are closing in on their upside targets and Silver has been lagging for weeks, what is next is likely a pause or a pullback. But I digress.
I'm thinking about something else.... If the 2-year yield continues lower then the Fed meeting in three weeks could mark their last rate hike. I explain why in this video and why the S&P 500 and miners could correct as this happens. Counterintuitive, I know. Click Here for the Video ------------------------------------------------------------------------------------------- This is a bull analog or rebound analog chart showing GDXJ's performance from the lows of the past 15-20 years. If Gold breaks $2100 this year then the black line could follow the path of the blue line. Interestingly, (as an aside) gold stocks have not enjoyed more than a 3-year bull market in 20 years.  ------------------------------------------------------------------------------------------- In TheDailyGold Premium... Something I am thinking about on the exploration side is companies and/or deposits that can go from good to great. I like to spot something that has some proven value yet potential to grow that by 5x or 10x. The higher quality juniors are already moving and some have moved a lot. If we get a pullback, look to buy 10% to 15% weakness. There is still plenty of value on the exploration side and that is what I've started focusing on. I will have a company report this weekend out on one situation that has value and the aforementioned potential. -------------------------------------------------------------------------------------------
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