Our proprietary cycle indicator remains down.

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 has reached level of previous bottom.

Trend remains down.

Silver is on a long-term buy signal.

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 is down and the trend is down, but that can change very soon. COT data is showing the first sign of a bottom. Let’s wait for price action to confirm.