Jack Chan Breaks Down the Latest Moves in Gold & Silver Prices

Buy Gold Bars at SD BullionTechnical analyst Jack Chan charts the latest moves in the price of gold and the price of silver

Submitted by Streetwise:

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Our proprietary cycle indicator is down.

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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 long term.

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The gold sector is on a short-term sell signal. Short-term signals can last for days and weeks, and are more suitable for traders.

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Speculation is now at levels of previous bottoms.

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/chansilver7-1
Silver is on a long-term buy signal.

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SLV is on a short-term sell signal, and short-term signals can last for days to weeks, more suitable for traders.

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Speculation is now at levels of previous bottoms.

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Summary
The precious metals sector is on major buy signal. The cycle is down. The multi-month consolidation continues but should be near completion soon.

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