This Past Week in Gold

By: Jack Chan | Sat, Oct 24, 2015
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SPDR Gold Trust Shares Daily Chart
GLD - on buy signal.


iShares Silver Trust Daily Chart
SLV - on buy signal.


Market Vectors Gold Miners Daily Chart
GDX - on buy signal.


XGD.TO Daily Chart
XGD.TO - on buy signal.


Central Fund of Canada Daily Chart
CEF - on buy signal.


Gold Daily Chart

Folks, the picture is clear: gold is at another top unless the bear market is over.

Gold Daily Chart 2

And when will the bear market be over? When the lower highs and lower lows are replaced with higher highs and higher lows, and speculation to increase substantially at both intermediate tops and bottoms.

Summary
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 9/11.
Traders can play for short term bounces but upside should be limited from here.

 


 

Jack Chan

Author: Jack Chan

Jack Chan
www.simplyprofits.org

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