Technical analyst Jack Chan examines the charts after Friday’s spike in gold.
by Jack Chan
The Gold Report
Gold stocks remain on short-term sell signal despite the sharp spike on Friday.
The U.S. dollar pulled back sharply on Friday and is now on a short-term sell signal. The dollar must not break below the May low to maintain the bullish outlook.
Gold sector had a single day price spike on Friday. Let’s see if there is any follow through buying this week to indicate that the pullback is complete.