first majestic silver

Gold Price And Silver Price Updates

Technical Analyst & Editor
May 21, 2016

Gold sector cycle is down.

Gold Sector

$HUI is on a new long-term buy signal, ending the sell signal from early 2012.

Long-term signals can last for months and years and are more suitable for the long-term investors.

$HUI is now on a short-term sell signal.

Short term signals can last for days and weeks and are more suitable for traders.

Speculation pulled back again this week but remains at an all time high.

Summary

Gold sector is on a new major buy signal.

The cycle indicator is down, suggesting a multi week correction is starting.

Speculation remains at a new all time high, suggesting that gold could be at another major top. COT data at the next cycle bottom will help guide us forward.

Silver Sector

Silver is now on a on a long-term buy signal ending the 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 sell signal.

Short-term signals can last for days and weeks and are more suitable for traders.

Speculation on silver remains at a new all time high.

Summary

Silver is on a long-term buy signal.

Short-term is now on sell signal, caution is advised.

Courtesy of www.simplyprofits.org

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.


In 1792 the U.S. Congress adopted a bimetallic standard (gold and silver) for the new nation's currency - with gold valued at $19.30 per troy ounce
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