GLD – on sell signal.
SLV – on sell signal.
GDX – on sell signal.
XGD.TO – on sell signal.
CEF – new buy signal.
The HUI 150 area is now major resistance, therefore, the lower prices can go during this sell off, the better potential return during the next tradable bottom.
Summary
Long term – on major sell signal since Mar 2012 when $HUI was at 550.
Short term – on mixed signals.
Gold sector cycle – down as of 5/16.
A tradable bottom should be in progress soon, be patient.
Disclaimer: 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.