Technical analyst Jack Chan charts recent movements in the gold and silver markets.
Our proprietary cycle indicator is down.
Gold sector (via HUI) is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term.
Gold sector is on a short-term sell signal. Short-term signals can last for days and weeks, and are more suitable for traders.
Speculation is in bull market values.
This is a massive bottoming pattern four years in the making for SPDR Gold Shares (NYSE:GLD).
Silver is on a long-term buy signal.
iShares Silver (NYSE:SLV) is on a short-term sell signal, and short-term signals can last for days to weeks, more suitable for traders.
Data supports overall higher prices.