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This past week in goldJack Chan
Current data suggests a pullback. ***
Current data suggests a pullback. ***
Current data supports an overall higher dollar. ***
Our ratio is on new BUY signal. ***
Trend is UP for USD. ***
Trend is DOWN for gold stocks. ***
Trend is UP for gold. ***
A similar candlestick suggests a pullback/consolidation is imminent.
A new high in gold and a lower high in gold stocks results in a divergence.
What is even more alarming is the fact that gold prices have been rallying higher since 2022, while gold stocks are struggling with lower highs. Summary ### Mar 23, 2024 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 45 years. Technical analysis has helped him filter out the noise and focus on the when, and leaving 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, the US dollar bottom in 2011, and most recently, the new bull market in the oil/energy sector. 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 |
