This Past Week In Gold

With COT data already at levels of previous tops, upside is limited and risk has increased for the sector, caution is advised.

GLD – on buy signal.

SLV –on buy signal.

GDX – on buy signal.

XGD.TO –on buy signal.

CEF – on buy signal.

This week’s COT data is shocking as speculation went from extreme bearish to extreme bullish in just three weeks. Caution is advised.

Summary

Long term – on major sell signal since Mar 2012.

Short term – on buy signals.

Gold sector cycle – up as of 6/20

With COT data already at levels of previous tops, upside is limited and risk has increased for the sector, caution is advised.

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.