⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

This Past Week In Precious Metals: HUI On Buy Signal

Published 08/12/2019, 08:58 AM
Updated 07/09/2023, 06:31 AM
XAG/USD
-
DX
-
SI
-
HUI
-
GDX
-
GDXJ
-
HUI Monthly Chart

The 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.

HUI Daily Chart

The 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.

Gold Daily Chart

COT data shows speculation is now at an all-time high.

Silver Daily Chart

COT data on Silver is also at levels of previous tops.

GLD Weekly Chart

Stay focused on the long term and stay the course.

USD Weekly Chart

The corrective bounce in the dollar is at or near completion.

HUI Weekly Chart

Stay focused on the long term and stay the course.

GDX Weekly Chart

GDX has resistance nearby.

GDXJ Weekly Chart

GDXJ is approaching resistance.

XGD.TO Weekly Chart

Our Canadian ETF is also approaching resistance.

Summary

  • Long term – on buy signal.
  • Short term – on buy signals.
  • Gold sector cycle is up.
  • COT data on gold and silver are now at levels of previous tops.

    Stay focused for the long term and stay the course.

    New money should wait for a correction.

    Latest comments

    Loading next article…
    Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
    Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
    Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
    It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
    Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
    © 2007-2024 - Fusion Media Limited. All Rights Reserved.