This past week in gold

Jack Chan
Posted Jun 6, 2016

GLD – on sell signal.

***

SLV – on sell signal.

***

GDX – on sell signal.

***

XGD.TO – on sell signal.

***

CEF – on sell signal.

***

USD - we were hoping for a pullback on the dollar to establish trend line support, and it happened all in one day on Friday. Prices must not break below the May low to maintain our bullish outlook on the dollar.

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 up.
We need to see some follow through buying next week to suggest that the pullback is complete.

###

Jun 4, 2016
Jack Chan
Archives
email: jack@simplyprofits.org
website: www.simplyprofits.org

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.

321gold Ltd