GLD (NYSE:GLD) – on sell signal.
iShares Silver (NYSE:SLV) – on sell signal.
GDX (NYSE:GDX) – on sell signal.
iShares S&P/TSX Global Gold (TO:XGD) – on sell signal.
CEF – on sell signal.
VanEck Vectors Junior Gold Miners (NYSE:GDXJ) – on sell signal.
Speculation remains at multi decade low, but short covering has begun with specs back to net long.
Speculation remains at multi decade low, but short covering has begun.
Speculation remains at multi decade low, but short covering has begun.
Two observations:
#1 – the recent pullback is on declining volume.
#2 – up gaps were filled on much lesser volume, providing support so far.
Summary
Long term – on sell signal.
Short term – on sell signals.
Gold sector cycle is up.
A tradable bottom remains in place.
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.