Gold Price Update

Technical Analyst & Editor
February 25, 2017

Gold sector cycle is up.

$HUI is on a long-term buy signal.

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

$HUI is on a short-term sell signal.

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

Gold stocks as represented by $HUI has met resistance. A multi week pullback will be most constructive, and if prices can find support at the 195 area, we may have an inverted Head & Shoulder bottoming pattern.

FCX – we are long from 10.64, holding for long-term gains.

Summary

Gold sector is on a major buy signal and short-term is on sell signal, indicating a pullback is in progress.

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.


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