{"id":16690,"date":"2018-07-19T02:59:17","date_gmt":"2018-07-19T02:59:17","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16690"},"modified":"2019-09-23T00:16:21","modified_gmt":"2019-09-23T00:16:21","slug":"time-to-sell-gold-stocks","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/time-to-sell-gold-stocks\/","title":{"rendered":"Time to sell Gold stocks"},"content":{"rendered":"<p>Stocks: <strong>Evolution Mining, Northern Star Resources, Regis Resources, St Barbara<\/strong><br \/>\nSymbols: <strong>EVN, NST, RRL, SBM<\/strong><br \/>\nExchange: ASX<br \/>\nDate: July 19, 2018<\/p>\n<p>The Dollar price of gold has broken support at $1240\/ounce, signaling a primary down-trend.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-19-gold.png?w=525&#038;ssl=1\" alt=\"Spot Gold in USD\" \/><\/p>\n<p>The Dollar Index continues to test resistance, consolidating in a narrow band below 95, a bullish sign. Chinese selling of the Dollar, to support the Yuan, has not materialized in sufficient magnitude to reverse Dollar strength. Breakout above 95 would spur selling of gold.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-19-dxy.png?w=525&#038;ssl=1\" alt=\"Dollar Index\" \/><\/p>\n<p>The Australian Dollar has not weakened sufficiently to protect local gold miners. The All Ordinaries Gold Index (XGD) is heading for a test of support at 4900\/4950. Given the circumstances, support is unlikely to hold.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-19-xgd.png?w=525&#038;ssl=1\" alt=\"All Ordinaries Gold Index\" \/><\/p>\n<p>Bearish divergence on 21-day Twiggs Money Flow warns of selling pressure across all four gold stocks in the Australian Growth portfolio.<\/p>\n<p>Evolution (EVN) is the weakest, having broken primary support at $3.10.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-19-evn.png?w=525&#038;ssl=1\" alt=\"Evolution (EVN)\" \/><\/p>\n<p>Northern Star (NST) broke medium-term support at $7.00 but is still in an up-trend. LT bearish divergence on Money Flow warns of selling pressure.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-19-nst.png?w=525&#038;ssl=1\" alt=\"Northern Star (NST)\" \/><\/p>\n<p>Regis Resources (RRL) respected medium-term support at $4.90 but Money Flow peaks below zero warn of strong selling pressure.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-19-rrl.png?w=525&#038;ssl=1\" alt=\"Regis Resources (RRL)\" \/><\/p>\n<p>St Barbara (SBM) respected its rising trendline but Money Flow also warns of selling pressure.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-19-sbm.png?w=525&#038;ssl=1\" alt=\"St Barbara (SBM)\" \/><\/p>\n<h2>Conclusion<\/h2>\n<p>I don&#8217;t like the idea of holding gold stocks long-term when the USD price of gold is in a primary down-trend. Now is a good time to lock in profits from the last 6 months.<\/p>\n<p>SELL (July 19, 2018)<\/p>\n<h4>Disclosure<\/h4>\n<p>Staff of The Patient Investor may directly or indirectly own shares in the above companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stocks: Evolution Mining, Northern Star Resources, Regis Resources, St Barbara Symbols: EVN, NST, RRL, SBM Exchange: ASX Date: July 19, 2018 The Dollar price of gold has broken support at $1240\/ounce, signaling a primary down-trend. The Dollar Index continues to test resistance, consolidating in a narrow band below 95, a bullish sign. Chinese selling of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/time-to-sell-gold-stocks\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Time to sell Gold stocks&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,3799,9,57],"tags":[166,1073,3843,2512,3844,3845,3204],"class_list":["post-16690","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-asx-growth","category-gold-precious-metals","category-stock-markets","tag-all-ordinaries-gold-index","tag-dollar-index","tag-evn","tag-nst","tag-rrl","tag-sbm","tag-spot-gold"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Time to sell Gold stocks - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Time to sell Gold stocks - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Stocks: Evolution Mining, Northern Star Resources, Regis Resources, St Barbara Symbols: EVN, NST, RRL, SBM Exchange: ASX Date: July 19, 2018 The Dollar price of gold has broken support at $1240\/ounce, signaling a primary down-trend. 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Follow-through above 7200 would strengthen the signal but I repeat my warning from last week: We ....could still experience a re-test of support at 6000. Proceed with caution. Summary Our three fundamental\u2026","rel":"","context":"In &quot;Australian Growth&quot;","block_context":{"text":"Australian Growth","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/investment-allocation\/asx-growth\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16712,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/21\/gold-breaches-primary-support\/","url_meta":{"origin":16690,"position":1},"title":"Gold breaches primary support","author":"Colin Twiggs","date":"July 21, 2018","format":false,"excerpt":"The Dollar price of gold breached support at $1240\/ounce, signaling a primary down-trend. A long tail indicates active buyers and we can expect retracement to test the new resistance level at $1250. The Dollar Index continues to test strong resistance at 95. But Chinese selling to support the Yuan has\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16361,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/aussie-gold-stocks-rally-as-the-greenback-strengthens\/","url_meta":{"origin":16690,"position":2},"title":"Aussie gold stocks rally as the greenback strengthens","author":"Colin Twiggs","date":"June 16, 2018","format":false,"excerpt":"The Dollar Index rallied to test resistance at 95 in response to the latest Fed rate hike. Short retracement is a bullish sign. Spot Gold retreated to $1280\/ounce. Penetration of the rising trendline warns of a correction to test primary support at $1250. A Trend Index peak below zero warns\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17012,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/07\/gold-stocks-face-selling-pressure-despite-plunging-aussie-dollar\/","url_meta":{"origin":16690,"position":3},"title":"Gold stocks face selling pressure despite plunging Aussie Dollar","author":"Colin Twiggs","date":"September 7, 2018","format":false,"excerpt":"The Yuan continues to test support at 14.5 US cents. The Dollar Index recovered above support at 95. Respect of support would confirm another advance, with a long-term target of 103, but bearish divergence on the Trend Index still warns of selling pressure. Gold is testing resistance at $1200\/ounce but\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17057,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/15\/silver-warns-of-further-gold-weakness\/","url_meta":{"origin":16690,"position":4},"title":"Silver warns of further Gold weakness","author":"Colin Twiggs","date":"September 15, 2018","format":false,"excerpt":"Precious metals tend to trend or consolidate together, driven by similar investor motives. Spot silver is testing primary support at $14 per ounce, while a Trend Index peak at zero warns of selling pressure. Breach of support would signal a primary down-trend. Gold is still testing support at $1200\/ounce but\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17087,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/22\/aussie-gold-stocks-rally\/","url_meta":{"origin":16690,"position":5},"title":"Aussie gold stocks rally","author":"Colin Twiggs","date":"September 22, 2018","format":false,"excerpt":"Gold continues to find resistance at $1210\/ounce. Trend Index peaks below zero warn of selling pressure. Respect of resistance would indicate another decline and a long-term target of the 2015 low at $1050\/ounce. Currencies The PBOC is supporting the Yuan at 14.5 US cents. Support for the Yuan is driving\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=16690"}],"version-history":[{"count":5,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16690\/revisions"}],"predecessor-version":[{"id":16719,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16690\/revisions\/16719"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=16690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=16690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=16690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}