Technical analyst Jack Chan charts the latest moves in the precious metals markets.
Our proprietary cycle indicator is up.
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.
The gold sector is on a short-term buy signal. Short-term signals can last for days and weeks, and are more suitable for traders.
Speculation is now at levels of previous short-term tops.
But speculation is far from levels of previous bull market tops.
Gold is at resistance.
USD broke support this week.
Silver is on a long-term buy signal.
SLV is on a short-term buy signal, and short-term signals can last for days to weeks, more suitable for traders.
Speculation is rising from a new multiyear low.
Speculation is supportive for overall higher prices.