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This past week in gold

Jack Chan
Posted Jul 15, 2013

GLD – on sell signal.


SLV – new buy signal.


GDX – on sell signal.


XGD.TO – on sell signal.


CEF – new buy signal.


The decline in gold prices this year has been classically bearish. Each sharp drop is followed by a consolidation before another sharp drop, thus trapping buyers who have been trying to pick a bottom. This pattern has to change before I can become a confident buyer.



Long term - on major sell signal since Mar 2012.
Short term - on mixed signals.
Gold sector cycle - continues to whipsaw.


Jul 13, 2013
Jack Chan
email: jack@simplyprofits.org
website: www.simplyprofits.org

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