This past week in gold
Posted Jan 19, 2015
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.
Jan 17, 2015
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