Jordan discusses GDX and GDXJ's performance over the past year and how it is indicative of a bull market. Gold stocks are looking increasingly good, and the recent rebound in gold from $1450 has been astonishing.
If you look at the monetary base and historic market peaks in gold, all these things point to gold moving to five figures. When gold reaches $1900, we will have a cup pattern and a measured upside target past that would be $2750.
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.