BBBBB This past week in gold Jack Chan

This past week in gold

Jack Chan

GLD – on buy signal.

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SLV – on buy signal.
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GDX – on buy signal.
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XGD.TO – on buy signal.
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CEF – on buy signal.

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Gold has poked above the 200ema again, prompting breakout calls from some analysts. In a bear market, time is ripe for short sellers to return at current level. And if gold has bottomed and a new bull market is born, price action and COT data will confirm that over the next few weeks.
Summary
Long term – on major sell signal since Mar 2012 when $HUI was at 550.
Short term – on buy signals.
Gold sector cycle – up as of 11/14.
A bear market rally is in progress.
COT data suggests lower metal prices overall going forward.