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Gold & Silver Trading Signals - 06/29/2008

June 29, 2008 by jack_chan

 

This Past Week In Gold
by Jack Chan

Three out of four ETFs are now on buy signals. Since the major top in mid March, both buy and sell signals have failed to establish a trend to trade with. Lets wait and see if an up trend can be established from this week’s price action.

GLD Chart 06/29/2008 - on buy signal

GLD - buy signal this week.

SLV Silver iShares still consolidating

SLV - still consolidating

GDX still consolidating

GDX - buy signal this week.

XGD.TO on buy signal this week

XGD.TO - buy signal this week

Disclosure

We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion.
 
The gold sector is in a bull market, therefore, sell signals are signals to exit and not signals to sell short. In a bull market, we wait for buy signals and set ups to initiate or accumulate positions.

Jack Chan runs a financial advisory service focusing on timing buy and sell signals on Gold, Enery, and Technology Indexes.  You can gain access tot Jack's advisory service through his website:  http://www.simplyprofits.org/