This Past Week in Gold
GLD - on buy signal.
SLV - on buy signal.
GDX - on buy signal.
XGD.TO - on buy signal.
CEF - on buy signal.
Gold has poked above the 200ema again, prompting breakout calls from some analysts. In a bear market, time is ripe for short sellers to return at current level. And if gold has bottomed and a new bull market is born, price action and COT data will confirm that over the next few weeks.
Long term - on major sell signal since Mar 2012 when $HUI was at 550.
Short term - on buy signals.
Gold sector cycle - up as of 11/14.
A bear market rally is in progress.
COT data suggests lower metal prices overall going forward.