Gold Sector Cycle Is Down
Jack Chan | Apr 09, 2017 02:42AM ET
GLD (NYSE:GLD) – on sell signal.
SLV (NYSE:SLV) – on sell signal.
GDX (NYSE:GDX) – on buy signal.
XGD.TO (TO:XGD) – on buy signal.
CEF (NYSE:CEF) – on buy signal.
GDXJ (NYSE:GDXJ) – on buy signal.
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Prices are bound by support and resistance, looking for a break either way to determine intermediate direction.
Summary
Long term – on major buy signal.
Short term – on mixed signals.
Gold sector cycle is down.
A correction is in progress.
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