This Past Week In Gold
GLD (NYSE:GLD) – on sell signal.
SLV (NYSE:SLV) – on buy signal.
GDX (NYSE:GDX) – on buy signal.
XGD.TO (TO:XGD) – on buy signal.
CEF (NYSE:CEF) – on sell signal.
Trend remains down.
A top has been confirmed, any rally/bounce is counter trend until resistance is broken.
Summary
Long term – on major buy signal.
Short term – on mixed signals.
Gold sector cycle is up.
Trend is down.
A counter trend bounce is in progress.
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.
End of update