Technical analyst Jack Chan is awaiting the gold bull correction and sees it as a good entry point for gold.
by Jack Chan
The Gold Report
[…] Our proprietary cycle indicator is down.
[…] We have a set up to short GLD with tight stops.
[…] We have a non confirmation this week as prices made a new high while indicator made a lower high.
A bull market in gold and silver has been confirmed, but no bull market is sustainable on a nonstop price spike, therefore, it is not if but when a correction will begin. Bull market corrections can be very sharp but short lived, therefore, the next cycle bottom could be an excellent entry point.