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GDX On New Buy Signal; CEF On Sell Signal

ByJack Chan
Published 12/04/2016, 03:36 AM
Updated 07/09/2023, 06:31 AM

GLD Daily Chart

GLD (NYSE:GLD) – on sell signal.

SLV Daily Chart

SLV (NYSE:SLV) – on sell signal.

GDX Daily Chart

GDX (NYSE:GDX) – on new buy signal.

XGD.TO Daily Chart

XGD.TO (TO:XGD) – on new buy signal.

CEF Daily Chart

CEF (NYSE:CEF) – on sell signal.

USD Monthly Chart

USD broke out from the two year long consolidation. A strong dollar is not friendly to the precious metals.

GDX Weekly Chart

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.

We also provide coverage to the major indexes and oil sector.

Latest comments

I understand the 20-50 MDA but I think it's a bit early to say to buy GDX or not especially if GLD is falling.
200-50
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