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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: Did Gold Stocks Bottom Yesterday...?
Published: Sat, 07/02/22
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I don't have an answer to the question but it's worth asking.
(I will be covering in this weekends subscriber update). In a flash update after Thursday trading I wrote that we could be 1-2 days of selling away from the bottom. In any case, the gold stocks are extremely oversold and downside potential is limited. Click Here to Read My Article A few days ago I recorded a video thinking about and analyzing when the Fed would stop hiking rates. (This was before the 2-year fell below 2.90%). The market is pricing in cuts in 2023 and the Fed ending its hikes in December or February 2023. Click Here to Listen to My Video ------------------------------------------------------------------------------------------- Here is a chart I sent subscribers yesterday.
It shows the moves in GDXJ coming off of the most significant lows over the past ~20 years. We could be days or weeks away from starting a real bull market which should last at least a few years. Given Gold's potential to break above $2100 and run much higher, I think we could see something significant. Maybe a combo of 2005 & 2008 over the first 12 months?  ------------------------------------------------------------------------------------------- In TheDailyGold Premium...
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