Jordan Roy-Byrne: Gold Quarterly Breakout to All-Time High

The Daily Gold, Released on 3/31/22

Today March 31, is the end of the month and end of the first quarter. This means we can look at the quarterly and monthly charts. Gold closed the quarter at a new all-time high. On a monthly basis, Gold closed above $1900 resistance but still faces resistance around $1990-$2000, which will become the most important resistance level on a long-term chart basis. The quarterly and monthly charts for Silver continue to show significant resistance at $27-$28. Silver may not clear that resistance until Gold first breaks past $2,100. Gold and Silver on both the monthly and quarterly charts closed well below the highs of the month, which aligns with our view that both metals remain in a correction.

Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.

Jordan Roy-Byrne: Gold Quarterly Breakout to All-Time High added by Herman James on 03/31/2022View all posts by Herman James ?+'