This past week in gold

Jack Chan
Posted Jul 15, 2013

GLD – on sell signal.

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SLV – new buy signal.

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GDX – on sell signal.

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XGD.TO – on sell signal.

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CEF – new buy signal.

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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.

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Summary

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

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

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.

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