This Past Week in Gold

By: Jack Chan | Sat, May 10, 2014
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SPDR Gold Trust Shares Daily Chart
GLD - on sell signal.


iShares Silver Trust Daily Chart
SLV - on sell signal.


Market Vectors Gold Miners Daily Chart
GDX - on buy signal.


XGD.TO Daily Chart
XGD.TO - back to sell signal this week.


Central Fund of Canada Daily Chart
CEF - on sell signal.


Silver Weekly Chart
Silver is testing multi month support.


Summary
Long term - on major sell signal since Mar 2012.
Short term - on mixed signals.
Gold sector cycle - down as of 3/21, ending the up cycle since 12/27.
COT data is not supportive for higher prices overall.

 


 

Jack Chan

Author: Jack Chan

Jack Chan
www.simplyprofits.org

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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