Gold Price & Silver Price Updates

Traders should be in cash or short.

Gold sector cycle is down as of 5/16

Gold Sector

$HUI is on a long-term sell signal since March 2012.

Long term signals can last for months and years and are more suitable for the long term investors.

$HUI is on a short-term sell signal.

Short term signals can last for days and weeks and are more suitable for traders.

Since topping in 2011, gold sector has broken down from each and every consolidation, which has been occurring consistently in each calendar year. The consolidation just broke down recently suggests that until this long term trend is reversed, gold is in a major bear market.

Summary

Gold sector is on major sell signal.

Cycle is down.

Traders should be in cash or short.

Silver Sector

Silver is on a long term sell signal since Dec 2011.

Long term signals can last for months and years and are more suitable for long term investors.

SLV – is on short term sell signal.

Short term signals can last for days and weeks and are more suitable for traders.

Summary

Silver is on a long term sell signal and investors should be in cash or short.

COT data reveals that speculation is close to levels of previous bottoms.

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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.   www.simplyprofits.org