This past week in gold

Jack Chan
Posted Aug 4, 2014

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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Gold is now in a 13 month consolidation, and if the bear market continues, we should see a breakdown in coming months.

A breakout on USD is not supportive for metal prices.

Summary

Long term - on major sell signal since Mar 2012.
Short term - on sell signals.
Gold sector cycle - up as of 6/20.
COT data suggests a top is in for the metals.

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Aug 2, 2014
Jack Chan
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email: jack@simplyprofits.org
website: www.simplyprofits.org

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