Gold Sector Cycle Is Down
The Gold Report | Mar 20, 2017 01:50AM ET
Technical analyst Jack Chan charts the latest moves in the gold and silver sectors.
Our proprietary cycle indicator is down.
The gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term.
The gold sector is on a short-term sell signal. Short-term signals can last for days and weeks, and are more suitable for traders.
Silver is on a long-term buy signal.
SLV (NYSE:SLV) is on a short-term sell signal, and short-term signals can last for days to weeks, more suitable for traders.
Summary
The gold sector is on major buy signal. The cycle is down. A correction is in progress.
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1) Statements and opinions expressed are the opinions of Jack Chan and not of Streetwise Reports or its officers. Jack Chan is wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the article preparation or editing so the author could speak independently about the sector. The author was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
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