This past week in gold
Posted Dec 7, 2015
GLD – on buy signal.
SLV – on buy signal.
GDX – on buy signal.
XGD.TO – on buy signal.
CEF – on buy signal.
Speculation is now at the lowest level since 2001, primed for a recovery over the next few weeks.
However, the long term trend remains down, with a multi month consolidation in progress.
Long term – on major sell signal since Mar 2012 when $HUI was at 550.
Short term – on buy signals.
Gold sector cycle – down as of 10/30.
Only aggressive and nimble traders should participate in the current market condition.
Preferably, wait for the completion of the recovery and begin shorting again.
Dec 5, 2015
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