Gold stocks are on a short-term sell signal and this is revealing an excellent entry point.
Gold stocks remain on short-term sell signal, and if we are in a bull market, prices should find support at the 200ema (exponential moving average), which may be an excellent entry.
There is a divergence in place, and as we have often observed, such divergence can lead to a multi-week correction.
iShares Silver Trust (SLV): We are short from 16.25 with stop now at break even for a free trade at worst.
Summary
We took a short position on SLV and will look for more set ups in the sector to take advantage of a multi-week correction now in progress.
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