Jordan Roy-Byrne: Setup for Huge Rally in Gold Stocks

The Daily Gold, Released on 2/14/24

Gold stocks are approaching extremely oversold levels and their valuations are near all-time lows. Sentiment is in the toilet. The common denominator behind the biggest rebounds in the gold stocks (as seen in 2008, 2016 and 2020) was the big move in Gold each time. If Gold makes a quick move from $1870-$1900 to $2400-$2500, then gold stocks will repeat their performance from those three examples.

Intro 0:00
GDXJ Breadth Indicators 0:26
Valuations & Sentiment 3:06
Gold Price 5:14
Conclusion 7:06

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.

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