Jack Chan’s Weekly Update on Gold and Silver

Jack Chan believes Silver is on a long-term buy signal:

Submitted by Streetwise:

Jack Chan charts both long- and short-term buy signals for gold and silver.

Gold chart

Our proprietary cycle indicator is up.

NYSE Arca Gold BUGS Index

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.

NYSE Arca Gold BUGS Index

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

FCX Chart

FCX – we are long from 10.64, holding for long-term gains.

Silver Chart

Silver is on a long-term buy signal.

SLV Chart

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

Summary
Gold sector is on major buy signal. Cycle is up. Holding FCX for long-term gains.

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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