This past week in gold
Posted Feb 9, 2015
GLD – on sell signal.
SLV – on sell signal.
GDX – on sell signal.
XGD.TO – on sell signal.
CEF – on sell signal.
As noted in previous analysis, gold continues to make lower highs and this time is no different. Until this trend is reversed, gold is in a bear market and rallies to the 200ema should be sold.
Long term – on major sell signal since Mar 2012 when $HUI was at 550.
Short term – on new sell signals.
Gold sector cycle – down as of 2/07, ending the up cycle since November.
A bear market rally has completed, short sellers should sell into any bounces.
Feb 7, 2015
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