GLD (NYSE:GLD) – on sell signal.
SLV (NYSE:SLV) – on sell signal.
GDX (NYSE:GDX) – on new buy signal.
XGD.TO (TO:XGD) – on new buy signal.
CEF (NYSE:CEF) – on sell signal.
USD broke out from the two year long consolidation. A strong dollar is not friendly to the precious metals.
Trend remains down.
Summary
Long term – on major buy signal.
Short term – on mixed signals.
Gold sector cycle is now 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.
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