This past week in gold
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.
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