Jordan Roy-Byrne, Founder and Editor of The Daily Gold, joins us to review some of the technical reasons he’s constructive on a continued move higher for the gold mining stocks in 2024. We start off comparing how this recent move higher at year-end, differs from the one we saw the end of last year, in terms of where the gold price action is, but also in terms of the market breadth readings where the majority of the gold stocks included in the HUI have broken above their 200 day moving averages.
Next we got into some of the key technical levels Jordan has been watching in GDX and GDXJ, and why he feels the recent move out of the December lows over the last few weeks may still have some room to run to the upside; especially when combined with the positive market breath setup, and potential for the gold price to break out above $2100 and run significantly higher in the year to come.
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Click here to visit The Daily Gold website and keep up to date on Jordan’s technical outlook.
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