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Haven’t heard from Jack Chan for a while

Posted by ipso facto @ 12:07 on April 8, 2016  

Jack Chan sees new major buy signal for gold but is patient

Technical analyst Jack Chan has examined the charts and says the gold sector is on a new major buy signal, which could signal a new bull market, but he is patiently waiting for confirmation.

The gold sector is on a new major buy signal, therefore opening the opportunity of a new bull market. However, Commitment of Traders (COT) data remains in bear market values and is now at levels of previous tops. I remain patient and wait for confirmation, which is when speculation according to published COT data has returned to bull market values, and the 2015 high in gold prices near $1,300/oz is exceeded to the upside.

$HUI is on a new long-term buy signal, ending the sell signal from early 2012. (See chart above).

Long-term signals can last for months and years and are more suitable for the long-term investors.

cont. http://www.mining.com/web/jack-chan-sees-new-major-buy-signal-for-gold-but-is-patient/

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.