Gold Price Exclusive Update - October 19, 2024

Our proprietary cycle indicator is now UP.

To public readers of our updates, our cycle indicator is one of the most effective timing tool for traders and investors. It is not perfect, because periodically the market can be more volatile and can result in short term whipsaws. But overall, the cycle indicator provides us with a clear direction how we should be speculating.

Investors

Accumulate positions during an up cycle and hold for the long term.

Traders

Enter the market at cycle bottoms and exit at cycle tops for short term profits.

GLD is on short term buy signal.

GDX is on short term buy signal.

XGD.to is on short term buy signal.

GDXJ is on short term buy signal.

Analysis

Speculation has topped at 315k, a new all time high.

Current data favors an overall higher dollar.

Our ratio is on buy signal.

Trend is UP for USD.

Trend is up for gold stocks.

Trend is UP for gold.

A pullback pattern is now established with prices supported at the 50ema.

GDX is now at resistance.

Next resistance at $60.

GDXJ has resistance at $60, and $130 after that.

Summary

Gold sector cycle is now up.

Trend is up for gold and gold stocks and for USD.

We will buy pullbacks as long as 50ema provides support.

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.

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