This past week in gold

Jack Chan
Posted May 30, 2016

GLD – on sell signal.

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SLV – on sell signal.

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GDX – on sell signal.

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XGD.TO – on sell signal.

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CEF – on sell signal.

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USD bounced firmly off the lower range of this seventeen month-long consolidation, with an outside reversal monthly candlestick, suggesting that the consolidation is complete. Expect a new high in coming months.

Summary

Long term – on a new major buy signal, ending the major sell signal from early 2012.
Short term – on sell signals.
Gold sector cycle – is down.
Caution is advised as a multi-week correction is in progress.

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May 28, 2016
Jack Chan
Archives
email: jack@simplyprofits.org
website: www.simplyprofits.org

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