This past week in gold
Posted Jun 16, 2014
GLD – on sell signal.
SLV – buy signal this week.
GDX – buy signal this week.
XGD.TO – buy signal this week.
CEF – buy signal this week.
An inverted "head & shoulder" bottoming pattern is in progress.
What makes this bottom significant is the fact that prices have reached our original downside target upon the breakdown in early 2013.
Long term - on major sell signal since Mar 2012.
Short term - on mixed signals.
Gold sector cycle - down as of 3/21, ending the up cycle since 12/27.
A tradable bottom is in progress.
Jun 14, 2014
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