Technical analyst Jack Chan charts major buy signals for gold, silver and oil.
Our proprietary cycle indicator reached 100% this week, which is the highest level ever. It cannot go higher, but prices can remain firm at current levels.
Gold in on a new major buy signal.
Silver is also on a new major buy signal.
Summary
A bull market in gold and silver is now confirmed, but for risk management, we shall wait for the next cycle bottom to begin accumulating positions for the long term.
A new major buy signal is now confirmed.
Summary
With a new major buy signal in place, investors can cost average in on oil stocks and/or ETFs, and hold for the long term.
Jack Chan is the editor of simply profits at www.simplyprofits.org, 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 U.S. dollar bottom in 2011.
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Disclosure:
1) Statement and opinions expressed are the opinions of Jack Chan and not of Streetwise Reports or its officers. Jack Chan is wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the article preparation or editing so the author could …read more