This past week in gold

Jack Chan
Posted Oct 23, 2017

GLD – on buy signal.

In a bull market, the 200ema often acts as support for pullbacks and corrections, where investors accumulate positions for the long-term.

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SLV – on buy signal.

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GDX – on sell signal.

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XGD.TO – on sell signal.

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CEF – on buy signal.

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GDXJ – on sell signal.

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Speculative activity favors overall higher gold prices.

Speculative activity favors overall higher silver prices.

A potential inverted head & shoulder pattern is in progress, and if the dollar breaks out, the metals may correct further, thus delaying a new leg of the gold bull market.

Summary

Long-term – on major buy signal.
Short-term – on mixed signals.
Gold sector cycle is down.
COT data is supportive for overall higher metal prices.
We are holding long-term positions.

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Oct 21, 2017
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.

We also provide coverage to the major indexes and oil sector.

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