November 28, 2024 Advertise | Contact Us | About Us | Search

This Past Week In Gold

Jack Chan

Technical Analyst & Editor

August 26, 2012

GLD - on buy signal.
A breakout this week.

SLV - on buy signal.
A breakout this week.

GDX - on buy signal.
Prices now testing 200ema resistance.

XGD.TO - on buy signal.

The breakout in gold last week has attracted a lot of attention -- and much more upon a breakout of this year's long consolidation.

Summary

Long term - on major sell signal.
Short term - on buy signals.
Gold sector ETFs are tradable but not holding for the long term until we have a major buy signal again.

Free reports this week only:
In appreciation of your constant feedback and comments, receive this week's updates and reports at no cost and without obligations. Your email addresses are not kept on file and there will be no solicitations from us.
Send your request to: [email protected]

Jack Chan is the editor of Simply Profits, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the US dollar bottom in 2011.