Gold Cycle Indicator Points to Buying Opportunity Amid Bear Market Value

The Gold Eagle team has provided an update on their proprietary cycle indicator, which is a key tool for traders and investors. According to the team, the indicator suggests that gold prices are at bear market value but the trend remains up for gold, gold stocks, and the US dollar (USD).

The team notes that the recovery rally has reached 50% retracement, which is now resistance. A weekly close above this level would be a positive sign. The Gold Eagle team emphasizes that their indicator is not perfect and can result in short-term whipsaws due to market volatility.

For traders, the team recommends entering the market at cycle bottoms and exiting at cycle tops for short-term profits. Investors are advised to be in cash or hedged. The Gold Eagle team notes that GLD, GDX, XGD.to, and GDXJ are all on short-term buy signals.

The team stresses that their update is based on a simple trading model that provides signals for traders and investors. They do not offer predictions or forecasts for the markets. Trade at your own discretion, they advise.