This past week in gold
GLD – buy signal failed, which is common during a down cycle.
SLV – on sell signal.
GDX – on sell signal.
XGD.TO – on sell signal.
CEF – on sell signal.
Support failed as the long term down trend continues.
Since topping in 2011, gold sector has broken down from each and every consolidation which has taken place consistently in every calendar year. Until this long term trend is reversed, buyers beware.
Long term – on major sell signal since Mar 2012 when $HUI was at 550.
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