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Message: Industry Bulletin: This past week in gold

 

Gold sector as represented by $HUI is on a long-term BUY signal.
Long-term signals can last for months and are more suitable for investors. 

Gold sector as represented by $HUI is on a short-term buy signal.
Short-term signals can last for weeks and are more suitable for traders.

Speculative liquidation continues.

Speculative liquidation may have ended.

Our ratio has a text book perfect new buy signal. 

Breakout this week from the multi week consolidation.

If the current situation plays out similar to 2016, we are looking at a 30 to 40% rally in coming weeks.

Summary

Long-term – on buy signal.
Short-term – on mixed signals.
Gold sector cycle is down and a consolidation/correction is in progress but may have ended this week.
We are holding a core position for the long-term, and may add more upon the cycle turning up.

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Oct 26, 2019
Jack Chan

 

Source: http://www.321gold.com/editorials/chan/chan102819.html 

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