Jordan Roy-Byrne: Key Support/Resistance for Gold & Silver

The Daily Gold, Released on 5/24/22

This video is a technical update on Gold & Silver. Gold faces stiff resistance at $1880-$1900. The current rebound should fade the first time it approaches that level. There is support at $1780, $1750 and roughly $1710 with the 40-month moving average. The 38% retracement is at $1675. Silver broke down to a near 2-year low. It is very oversold and bouncing. However, it could fall to very strong support around $18.75. The Gold/Silver ratio should go to 90 and maybe 100.

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.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments