This Past Week in Gold

By: Jack Chan | Sun, Jun 15, 2014
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SPDR Gold Trust Shares Daily Chart
GLD - on sell signal.


iShares Silver Trust Daily Chart
SLV - buy signal this week.


Market vectors Gold Miners Daily Chart
GDX - buy signal this week.


XGD.TO Daily Chart
XGD.TO - buy signal this week.


Central Fund of Canada Daily Chart
CEF - buy signal this week.


HUI Gold Bugs Index Daily Chart
An inverted "head & shoulder" bottoming pattern is in progress.


HUI Gold Bugs Index Weekly Chart

What makes this bottom significant is the fact that prices have reached our original downside target upon the breakdown in early 2013.

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.
A tradable bottom is in progress.

 


 

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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