|
Chart 1: Gold Daily
This is the daily candle chart of Gold.
Gold has struggled to surpass $1240. If it does then it faces resistance at $1260 and very strong resistance at $1270.
The moving averages are coalescing around the low $1270s. That includes the 600-dma which supported many lows in Gold over the past few years.
In short, if this rally pushes above $1240, it is at risk of coming to an abrupt end at $1260 or $1270.
TheDailyGold Premium #594
|
We published TDG #594, a 21-page update yesterday.
Many gold bulls are getting excited, thinking we are at a bottom but the larger prognosis is really troubling.
Breadth is shit. The technicals are shit. The gold stocks are rallying weakly back to major resistance that was previous support. This is not rocket science. After a big break the market sometimes retests that break.
So be on guard over the coming days and weeks. If the gold stocks lose the uptrend lines from the September and October lows it could set in motion the next leg of the decline.
Recall that the gold stocks essentially crashed into the 2000 and 2008 bottoms. Precious metals can get hit hard even as their fundamentals start improving, right before they bottom.
Our full reading of the situation is of course part of our premium updates.
If you want to save money or even make money before the major turn next year, consider a subscription. We profited handsomely on the big decline in August and intend to do the same over the coming months.
Subscribe for Only $149
You are the man. Every time I hope you are wrong, you are for the most part right.
Man! I wish I would have signed up for your service last month. I think you could have saved me from the bloodbath in my account. I have liked your approach.
"I am simply a pure market-timer for a broad basket of gold stocks and precious metals. Jordan, on the other hand, has provided superior STOCK-PICKING abilities over the longer-term. I am familiar with most gold stock subscription services over the past 30 years. I rarely provide endorsements of any kind, but Jordan's ability to analyze individual gold/silver stocks has been among the top 5 services over the past decade. First and foremost, I
respect his integrity. - Dr. Jeffrey Kern, SkiGoldStocks.com
I follow your work and it's very impressive -- am considering subscribing even though I focus on futures and macro more than individual equities. You are a refreshing voice in a space full of doom-and-gloomers, perma-bulls, and precious metals salesmen.
My 6 month renewal is due once again. Your work continues to be outstanding and I want to make sure there are no disruptions in the service.
You nearly always read the trends and support and resistance extremely well. Please keep us posted if or when the outlook seems to change. which you always do of course. TDG is the most valuable resource for understanding what is possible to understand about the PMs.
Subscribe to our service for only $149 and find out which juniors are great values and have massive potential over the next 12-18 months. (And we answer subscriber questions).
Subscribe for Only $149
Thanks for reading. I wish you all great health and prosperity!
-Jordan
Disclaimer: This newsletter is intended for informational and educational purposes only and should not be considered personalized and individualized investment advice. Investment in the precious metals sector contains significant risks. You should consult with an investment advisor and do your own due diligence before making any investment decisions. This email may contain certain forward looking statements which are subject to risks, uncertainties and a multitude of factors that
can cause results and outcomes to differ materially from those discussed herein. Novo Resources has contracted TheDailyGold.com for marketing purposes.
|
