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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: Gold Needs to Hold This Level...
Published: Fri, 02/10/23
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I recorded a video analyzing Gold's technicals and everything points to a key level.
Should Gold holds this level or the next few months, it will be in position to challenge for a breakout soon after. On the other hands, if Gold corrects below this level, it will require more time to rebuild upside momentum. I discuss these potential scenarios in the video below. Click Here to Watch the Video ------------------------------------------------------------------------------------------- This chart is from the excellent Barry Bannister of Stifel. He looked at a number of yield curves and the history of their inversions and following recessions in order to project the next recession. His general conclusion is recession in Q3. The projection in this chart below is August and this yield curve steepening in May. That means you could get a rate cut in the summer.  ------------------------------------------------------------------------------------------- In TheDailyGold Premium... Recall what I wrote here a few weeks ago: Also, go for high quality deposits and companies.....Capital is flowing into these names and I would still prefer these over marginal and optionality plays. If I'm wrong and the sector has a bigger or longer correction than expected, these names will hold up the best. In TDG #815 I shared my top 5 silver stocks and a list of 12-15 juniors with the best deposits (companies with a resource). This weekend in TDG #817, I'm expanding my watch list into a table. There will be notes on some 15 companies. In my tables I always include the company's current market cap and cash position. Use this weakness to accumulate the juniors that have the best combination of 1) highest quality assets and 2) upside potential. -------------------------------------------------------------------------------------------
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