Gold Price And Silver Price Updates
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Some analysts have declared that the gold bear market is over. One of my criteria to confirm a bull market is when COT data has returned to bull market values.
Gold sector cycle is up.
Gold Sector
$HUI is on a long term sell signal since March 2012.
Long term signals can last for months and years and are more suitable for the long term investors.
$HUI is on a short term buy signal.
Short term signals can last for days and weeks and are more suitable for traders.
Some analysts have declared that the gold bear market is over.
One of my criteria to confirm a bull market is when COT data has returned to bull market values.
Summary
Gold sector is on major sell signal.
Cycle is up.
Once a bull market is confirmed, we will be buying/accumulating at cycle bottoms, as we did beginning in 2001.
Silver Sector
Silver is on a long term sell signal since Dec 2011.
Long term signals can last for months and years and are more suitable for long term investors.
SLV – short term is on buy signal.
Short term signals can last for days and weeks and are more suitable for traders.
Speculation has reached levels of previous tops again.
Summary
Silver is on a long term sell signal and investors should be in cash or short.
Short term is on buy signal but COT data suggests lower prices in coming weeks.
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Jack Chan is the editor of Simply Profits, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the US dollar bottom in 2011.
