Featured is the daily bar chart for the GLD (Electronically traded gold shares).  The vertical lines on the chart draw attention to a combination of lows that occurred simultaneously in the Price, the RSI and the MACD.  Whenever this chart pattern occurs, it is usually a safe place to buy.  This is especially true when the price turns up just above the 200 DMA (red line), and even more so while the 200 DMA is rising (as it is now).  One final note of confidence is the fact that the 50 DMA (blue line) is about to move into positive alignment with the 200 DMA. 

On the fundamental side, the most recent COT report showed that the total number of net short positions was down to 102,000 - the lowest number in 5 weeks, indicating that the professionals are turning bullish.

All signals are “GO”.

Featured is the daily bar chart for the HUI index of unhedged gold and silver stocks.  The chart pattern here is very similar to the earlier chart of GLD.  In this chart your attention is drawn to the area’s of resistance (R on the chart).  When the breakout occurs (blue arrow), while the Price, RSI and MACD are all down at the bottom of a correction, the uptrend that follows the breakout usually lasts 30 – 60 days before an opportunity to take profits occurs again.

Featured is the daily bar chart for silver.  When the same chart pattern appears on a number of different charts, depicting a number of different commodities or indexes within a sector, more and more traders will act on these signals, and help to make it almost a ‘self-fulfilling’ event.….. ‘HAVE NO FEAR!’