The Setup for Huge Rally in Gold Stocks
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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.
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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, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets. He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free. TheDailyGold.com was recently named one of the top 50 Investment Blogs by DailyReckoning and WalletHub.
