Jack Chan's Weekly Precious Metals Market Update

Streetwise Reports - Exclusive Articles |

Source: Streetwise Reports   09/11/2018

In his weekly precious metals market update, technical analyst Jack Chan charts the latest moves in the gold and silver markets.


Our proprietary cycle indicator is down.


The gold sector is on a long-term sell signal. Long-term signals can last for months and years and are more suitable for investors.


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


Our ratio between gold and gold stocks is on short-term sell signal.


Speculation is now at net short for the first time since 2001.


Silver is now on a long-term sell signal.


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


Speculation is at net short again.


Our ratio between gold and stocks is now at the same oversold level as in July 2015, the start of the multimonth bottoming process before the 150%+ rally in early 2016.

Summary
The precious metals sector is now on a long-term sell signal, which is suitable for trading and not for long-term holding. Short-term is on mixed signals. The cycle is down. COT data is at extreme levels, which suggests that a recovery will occur soon. We are looking to exit our long-term positions upon a recovery rally.

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.

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

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.

Charts courtesy of Jack Chan

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Emerging Growth

The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings Ltd through its subsidiary operates as a cannabinoid-based research and development company in Canada.