Jordan Roy-Byrne, Founder and Editor of The Daily Gold, joins me to share his technical outlook on gold’s continued pricing breakout, as well as key technical resistance levels in both silver and copper. Jordan feels gold has cleared enough overhead resistance at this point, clearly breaking out on the monthly chart back in November, and the daily and weekly charts have closed consistently above $2100 to call this a legitimate breakout in the yellow metal.
While Jordan is encouraged by the recent move above $25 in silver, he is looking for a weekly close above $26 and then sees there being more resistance in the $28-$29 pricing zone that prove to be tough resistance to get through on the first attempt. With regards to copper, again he is encouraged by the recent move back above $4, but sees key weekly and monthly resistance at $4.25-$4.30 that must be cleared definitively to declare a more meaningful breakout in the red metal.
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