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This week in gold

Jack Chan
written Jun 16, 2007
posted Jun 18, 2007

$HUI - the buy signal from early June remains valid as prices did not violate the previous low.

$XAU - but the buy signal on XAU has failed and we are waiting for a new TLBBS.

GDX - buy signal also failed and we took a small loss, now waiting for a new TLBBS.

XGD.TO - previous buy signal also failed and we took a small loss. We have a fresh buy signal this week.

Our last buy signals in the gold ETFs failed and we took a small loss on a conservative allocation. Both gold and silver have now fallen back to the 200ema support, where in the past six years, have acted as a springboard for all rallies, and three times as a launching pad for an impulsive phase to new highs. A special tutorial with a buying strategy for the gold sector in anticipation of the next impulsive phase has been posted for subscribers.

Disclosure: We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion.

End of update

Jun 16, 2007
Jack Chan
email: jack@simplyprofits.org
website: www.simplyprofits.org

321gold Ltd