This Past Week In Gold
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There are mixed signals for gold and precious metal equities: Short-term they are on mixed Signals. However, long-term they are still on Sell Signals.
GLD – on sell signal.
SLV – on buy signal.
GDX – on sell signal.
XGD.TO – on sell signal.
CEF – on sell signal.
The big trend in gold remains firmly down until resistance is broken and support established.
Summary
Long term – on major sell signal since Mar 2012.
Short term – on mixed signals.
Gold sector cycle – down as of 8/09.
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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.
