This Past Week In Gold

Jack Chan
Technical Analyst & Editor
October 11, 2014

COT data suggests a tradable bottom is not in yet for the metals.

GLD – new buy signal this week.

SLV – on sell signal.

GDX – new buy signal this week.

XGD.TO – new buy signal this week.                                                                       

CEF – on sell signal.

Since our major buy signal on USD in 2011, both gold and silver have declined substantially. And now, the dollar is testing upper resistance, and upon a successful breakout, could affect the metals for a very long time to come.

USD has been basing since 2008, the year which the dollar ended its twenty three year bear market which started in 1985. 

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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