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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: Bullish Signal in Gold Stocks...
Published: Thu, 07/13/23
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I am on out of town so this update will be brief.
The gold stocks had made a bullish signal (discussed in premium update) prior to Wednesday's pop. I discuss the signal and short-term levels to watch for Gold & Silver. Video: Short-Term Bullish Signal in Gold Stocks Rick Rule is hosting his annual resource conference in Boca Raton in July. One can attend physically or even virtually. Click Here for all the Information on the Conference (Note, if you attend I receive a small commission) -------------------------------------------------------------------------------------------
Here is a weekly chart of Gold with the equivalent to the 150-day moving average.
Click to enlarge. Gold's recent correction bottomed at the 150-day moving average. The light purple arrows show tests of the 150-day moving average before significant breakouts. The late 1970s and 2009 are potentially similar to now because those were breakouts that followed the first significant correction after a new all-time high.  -------------------------------------------------------------------------------------------  Nevada King Gold (sponsor of this free newsletter) discovered oxide mineralization at its Atlanta Mine Gold project in Nevada and has reported numerous, excellent drill hits. They have drilled high-grades over some lengthy widths. Nevada is the top mining jurisdiction in the world. There have been quite a few takeovers there in recent years and oxide projects are quite valuable. The company has increased from one drill rig to three, which will speed up the pace of exploration. Also, results are pending from 81 holes for 13,373 meters. Subscribers are up 55% on the first buy and 20% on the second buy. ------------------------------------------------------------------------------------------- In TheDailyGold Premium... TDG #838 was a light update. We noted the positive divergence in the GDX advance decline line and mentioned that miners could gain real traction if they surpassed last Wednesday's highs. Do not wait for Gold to breakout. Subscribe today! -------------------------------------------------------------------------------------------
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