Source: Jack Chan for The Gold Report 04/22/2017
Technical analyst Jack Chan charts upward trends in the precious metals markets.
Our proprietary cycle indicator is up.
The gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for the long term.
The gold sector is on a short-term buy signal. Short-term signals can last for days and weeks, and are more suitable for traders.
The trend is up on gold stocks.
The trend is up in gold.
The trend is up in silver.
Silver is on a long-term buy signal.
SLV is on a short-term sell signal, and short-term signals can last for days to weeks, more suitable for traders.
Summary
The precious metals sector is on a major buy signal. The cycle is up. The trends are up. The multimonth correction is complete; I am looking for overall higher prices.
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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