Jordan Roy-Byrne: Gold Must Hold This Level

The Daily Gold, Released on 2/9/23

Major moving averages and Fibonnaci retracements are filling into create significant support for Gold at $1800. If Gold holds this level over the next few months then it keeps the 2019 playbook alive. In that scenario, Gold can breakout in 2023. However, in the scenario that Gold falls below $1800, then it would take more time for Gold to mount a move to a breakout. Falling below $1800 and underperforming the stock market could preclude a breakout this year.

0:00 Intro0:47 Support at $18007:00 2 Scenarios12:00 Summary

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 Must Hold This Level added by Herman James on 02/10/2023View all posts by Herman James ?+'