This Past Week In Gold

A tradable bottom is in progress.

GLD – on sell signal.

SLV – buy signal this week.

GDX – buy signal this week.

XGD.TO – buy signal this week.

CEF – buy signal this week.

An inverted “head & shoulder” bottoming pattern is in progress.

What makes this bottom significant is the fact that prices have reached our original downside target upon the breakdown in early 2013.

Summary

Long term – on major sell signal since Mar 2012.

Short term – on mixed signals.

Gold sector cycle – down as of 3/21, ending the up cycle since 12/27.

A tradable bottom is in progress.

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.