This past week in gold
GLD – on sell signal.
In a bull market, the 200ema often acts as support for pullbacks and corrections, where investors accumulate positions for the long-term.
SLV – on sell signal.
GDX – on sell signal.
XGD.TO – on sell signal.
CEF – on sell signal.
GDXJ – on sell signal.
Open interests in gold has dropped drastically from the recent pullback, now reaching levels of previous bottoms.
Speculative activity in silver is now at levels of previous bottoms.
A potential head & shoulder topping pattern in the dollar, and upon a breakdown, will be very supportive to the metals.
Long-term – on major buy signal.
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