Gold Sector
Gold sector as represented by $HUI is on a long term buy signal.
Long term signals can last for months and are more suitable for investors.
Gold sector as represented by $HUI is on a short term buy signal.
Short term signals can last for weeks and are more suitable for traders.
COT data on gold is favorable for overall higher prices.
Silver Sector
COT data on silver is favorable for overall higher prices.
The multi-month consolidation is now complete, with prices now at resistance.
Prices are also at long term resistance. A breakout here will be massive.
The breakout on $HUI remains valid.
The ending diagonal corrective pattern is now complete.
Summary
- Long term – on buy signal.
- Short term – on buy signals.
- Gold sector cycle is up.
COT data is favorable for overall higher metal prices.
Maintain positions and stay the course.
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.