This Always Happens Before Gold Explodes
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The first thing to look for is gold will bottom around the 200-day moving average. It might bottom at the 200-day, exactly. A little bit above at the 150-day or the 170-day or it could go a little bit below the 200-day moving average. So we know that in history gold breaks out makes a big move higher than its first big post breakout correction.
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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.
