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Gold Sector On Short Term Buy Signal

Published 03/25/2019, 08:05 AM
Updated 07/09/2023, 06:31 AM

HUI Monthly Chart

Gold sector as represented by HUI is on a long term sell 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 on gold is supportive for overall higher prices

Silver Daily Chart

COT data on silver is also supportive for overall higher prices.

GDX Daily Chart

The GDX trend is firmly up.

GDX Daily Chart

Upside resistance for GDX is $25.

HUI-GLD Weekly Chart

Gold stocks continue to outperform during the current up cycle.

GLD Weekly Chart

Gold is lagging behind gold stocks as the multi-year bottoming pattern continues.

Summary

  • Long term – on sell signal.
  • Short term – on buy signals.
  • Gold sector cycle is up, and the correction has found support at the 50/200ema.
  • COT data is supportive for overall higher metal prices.
  • Maintain positions and stay the course.

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.

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