Gold had another stellar week, now challenging the 2015
high at 1306. It would be most positive going forward if this task succeeds
before a multi-week correction begins.
Silver has been playing catch up, and also mounting a
charge at the 2015 high.
Much will depend on the dollar as it continues to
consolidate.
Both gold and silver are challenging major resistance
while the U.S. dollar is testing support. A break will help clarify the
technical prospect going forward.
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.
Disclosure: 1) Statement 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. Jack Chan
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) 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.
3) 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.
All charts courtesy of Jack Chan.
