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This past week in goldJack Chan
Gold sector as represented by $HUI is on a long-term BUY signal.
Short-term is on BUY signal.
Speculation on gold is at a new high, but what's more important is, a new speculative bottom is now established. That will help guide us going forward.
Exactly the same is happening in silver.
A text-book perfect BUY signal off the 200ema as it was in Oct.
Long-term IS bullish.
A classic bull market as we are now in an impulsive phase after being in a two-year corrective phase.
GDX closed above resistance this week.
Our Canadian cousin also broke resistance. Summary Long-term – on buy signal. ### Feb 22, 2020 Disclosure: We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion. We also provide coverage to the major indexes and oil sector. Jack Chan: Is the editor of simply profits at www.simplyprofits.org, established in 2006. Jack bought his first mining stock, Hoko exploration in 1979, and has been active in the markets for the past 40 years. Technical analysis has helped him filtering out the noise and focusing on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the Nasdaq top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the US dollar bottom in 2011. In his spare time, Jack is an avid golfer and tennis player, and volunteers his time coaching and lecturing at local clubs and universities. 321gold Ltd |
