Gold Remained Locked In Major Down Trend
Jack Chan | May 17, 2015 03:40AM ET
SPDR Gold Shares (ARCA:GLD) – on buy signal.
iShares Silver (ARCA:SLV) – on buy signal.
Market Vectors Gold Miners (ARCA:GDX) – on buy signal.
iShares TSX Global Gold (TO:XGD) – on buy signal.
Central Fund of Canada Ltd (ARCA:CEF) – on buy signal.
Gold stocks remained locked in a major down trend and until this trend is reversed, buyers beware.
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Summary
Long term – on major sell signal since Mar 2012 when HUI was at 550.
Short term – on buy signals.
Gold sector cycle – down as of 5/16.
Caution is advised.
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