Interview: More Short-Term Pain Before Long-Term Gains
Jordan Roy-Byrne, Founder and Editor of The Daily Gold, reviews some of the technical support levels he is watching for in gold, silver, and the precious metal mining stocks, as the sector continues to correct. Now that the $1980 support gave way in gold, he is looking to the 150 day moving average, as well as the 20 month and 40 month moving averages as key support levels in gold. As mentioned last week, the picture in silver and in the GDX are a bit more concerning, but he notes that the 200 day moving average in both is now sloping upwards, and thus could offer a good support level to watch on both charts.
