GLD (NYSE:GLD) – on sell signal.
Prices are now at 200ema support.
iShares Silver (NYSE:SLV) – on sell signal.
Friday’s outside reversal should mark the end of this correction.
GDX (NYSE:GDX) – on sell signal.
XGD.TO – on buy signal.
Central Fund of Canada Ltd (NYSE:CEF) – on buy signal.
GDXJ – on sell signal.
Speculative activity favors overall higher gold prices.
Speculative activity favors overall higher silver prices.
A divergence is now in place, which often marks turning points in the commodity markets.
Summary
Long term – on major buy signal.
Short term – on mixed signals.
Gold sector cycle is up.
COT data is supportive for overall higher metal prices.
We are holding long term positions.
The current pullback is a buying opportunity for long term investors.
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.
We also provide coverage to the major indexes and oil sector.