Gold Sector On Short Term Buy Signal
Jack Chan | Mar 25, 2019 08:05AM ET
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.
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.
COT data on gold is supportive for overall higher prices
COT data on silver is also supportive for overall higher prices.
The GDX trend is firmly up.
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Upside resistance for GDX is $25.
Gold stocks continue to outperform during the current up cycle.
Gold is lagging behind gold stocks as the multi-year bottoming pattern continues.
h3 Summary/h3- 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.
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