This Past Week In Gold

COT data suggests a top is forming in metal prices.

GLD – sell signal this week.

SLV – sell signal this week.

GDX – sell signal this week.

XGD.TO – sell signal this week.                                                                       

CEF – sell signal this week.

The dollar is tracing out an inverted head & shoulder bottoming pattern. A rallying dollar will not be friendly to the metals.

Summary

Long term – on major sell signal since Mar 2012.

Short term – on sell signals.

Gold sector cycle – up as of 6/20

COT data suggests a top is forming in metal prices.

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.