This Past Week In Gold - October 10, 2016

Experience, Creativity And Dedication To Finding And Presenting The Best Investment Ideas • Oct 10, 2016 at 6:52 PM EDT

Technical analyst Jack Chan charts the latest movement in the gold and silver markets, noting the cycle has reversed down.

Chancover_10-8

Our proprietary cycle indicator reversed down this week, now approaching levels of previous bottoms.

ChanHUI110-8

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.

ChanHUI210-8

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

ChanSpec10-8

Speculation dropped sharply, but is not yet at the level of the previous bottom.

ChanSPDR10-8

The uptrend has ended and a correction is in progress.

ChanSilver10-8

Silver is on a long-term buy signal.

ChanSLV10-8

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

Summary
A bull market in gold and silver has been confirmed. The cycle reversed down again this week. Our modest positions were stopped out with small losses, and we shall wait for the next cycle bottom.

Disclosure:

1) Statements and opinions expressed are the opinions of Jack Chan and not of Streetwise Reports or its officers. Jack Chan is wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the article preparation or editing so the author could speak independently about the sector. The author was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
2) Jack Chan: 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. We also provide coverage to the major indexes and oil sector.
3) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their families are prohibited from making purchases and/or sales of those securities in the open market or otherwise during the up-to-four-week interval from the time of the interview until after it publishes.

Charts courtesy of Jack Chan