This past week in gold
Posted Jul 21, 2014
GLD – sell signal this week.
SLV – sell signal this week.
GDX – sell signal this week.
XGD.TO – sell signal this week.
CEF – sell signal this week.
The dollar is tracing out an inverted head & shoulder bottoming pattern. A rallying dollar will not be friendly to the metals.
Long term - on major sell signal since Mar 2012.
Short term - on sell signals.
Gold sector cycle - up as of 6/20.
COT data suggests a top is forming in metal prices.
Jul 19, 2014
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