Gold Price Correction Overdue
We foresee a gold bull market correction, which we believe would make an excellent entry point.
Our proprietary cycle indicator is down.
GLD remains on short-term sell signal.
Gold stocks as represented by $HUI have not had a consolidation this year and it is long overdue.
The big picture remains the same in the dollar as the multi-month consolidation continues.
Summary
A bull market in gold and silver has been confirmed, but no bull market is sustainable on a nonstop price spike. Therefore, it is not if but when a correction will begin. Bull market corrections can be very sharp but short lived. Consequently, the next cycle bottom could be an excellent entry point.
Courtesy of www.simplyprofits.org