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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: Don't Expect Big Correction in Gold & Miners....
Published: Thu, 01/19/23
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Almost everyone is worried about a big correction in precious metals.
Sure, a correction may have started. But history shows that unless this is not a bull market, we need not worry about some big pullback. I explain in more detail in the article below. Click Here for My Article Here is my weekly KE Report interview in which I discuss the technical analysis methods I employ, Gold & Silver support levels, and correction thoughts. Click Here for My Interview Last week I talked about the 2-year yield and its potential to accelerate to the downside. It closed Wednesday at nearly a 4-year low. A plunging 2-year yield along with economic indicators screaming recession is a very bullish setup for Gold. Here is Steve Saville, who I mentioned in my video talking about the 2-year yield and when the Fed could cut rates. Click Here for Steve's post ------------------------------------------------------------------------------------------- This chart plots the major rebounds and cyclical bull moves in Gold on the scale of the current rebound. Black is the current rebound and the dotted line is the average of the 4 best comparisons to this fledgling rebound (presuming its the start of a bull market). Note, Gold should accelerate to the upside after a weekly close above $2000. This is weekly data.  ------------------------------------------------------------------------------------------- In TheDailyGold Premium... TDG#813 included an intro report on an exploration company that has a chance to approach a holy grail type of deposit. I base this on location, grade and deposit type. The jurisdiction they operate in has seen quite a few acquisitions in recent years. The grade is there. They just need to find more. My nearly 2,500 word long report assesses their value, opportunities, some comparisons as well as the exploration they are doing this year and the upside if they are successful. This week I have been rebuilding my own personal watch lists. If this is a bull market then we will want to use this correction buy the leaders and potential leaders that we missed a few months ago. -------------------------------------------------------------------------------------------
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