GDX On New Buy Signal; CEF On Sell Signal
Jack Chan | Dec 04, 2016 03:36AM ET
GLD (NYSE:GLD) – on sell signal.
SLV (NYSE:SLV) – on sell signal.
GDX (NYSE:GDX) – on new buy signal.
XGD.TO (TO:XGD) – on new buy signal.
CEF (NYSE:CEF) – on sell signal.
USD broke out from the two year long consolidation. A strong dollar is not friendly to the precious metals.
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Trend remains down.
Summary
Long term – on major buy signal.
Short term – on mixed signals.
Gold sector cycle is now up.
Trend is down.
A counter trend bounce is in progress.
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