Jack Chan: Gold Price Exclusive Update
By: Jack Chan | May 22, 2021
Our proprietary cycle indicator is 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
During a major buy signal, investors can accumulate positions by cost averaging at cycle bottoms, ideally when prices are at or near the daily 200ema.
During a major sell signal, investors should be hedged or in cash. Traders
Simply cost average in at cycle bottoms when prices are at or near the daily 200ema; and cost average out at cycle tops when prices are above the daily 50ema.
Gold sector remains on long term BUY at the end of April.
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
COT data is favorable for overall higher gold prices.
A major bottom is now confirmed.
Gold has found major support, and next resistance is at 1950.
GDX has also found major support, next resistance at 45.
GDXJ met support, and has resistance at 90.
XGD found support and has resistance at 25. Summary
Long term – on major BUY signal.
Short term – on buy signals.
Gold sector cycle is up, be long and stay long.
$$$ We are 60% invested. Read Full Story »»» DiscoverGold