How To Take Advantage Of Multi-Week Correction In Gold And Silver

Gold stocks are on a short-term sell signal and this is revealing an excellent entry point.

Gold stocks are on a short-term sell signal and this is revealing an excellent entry point.

HUI Gold BUGS Index

Gold stocks remain on short-term sell signal, and if we are in a bull market, prices should find support at the 200ema (exponential moving average), which may be an excellent entry.

SPDR Gold Shares

There is a divergence in place, and as we have often observed, such divergence can lead to a multi-week correction.

iShares Silver Trust

iShares Silver Trust (SLV): We are short from 16.25 with stop now at break even for a free trade at worst.

Summary

We took a short position on SLV and will look for more set ups in the sector to take advantage of a multi-week correction now in progress.

Comments