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David Bird highlights how technical analysis can often precede headline news, using gold’s performance around the Jackson Hole event as an example.
According to Bird, while news reports attributed gold’s decline to inflation concerns, rate hike expectations, rising yields, and a stronger dollar, technical chart signals had already indicated the move before headlines broke.
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Bird previously questioned whether silver was in a bullish or bearish phase, urging investors to evaluate their discipline before making decisions in the silver market. He also reported initiating long positions in precious metals, particularly gold and silver, and taking a position in SLVM at about $32.50 earlier this year. These earlier views provide context for his recent comments on technical signals in the gold market.