Gold & Silver Prep for New Rally

Gold & Silver Prep for New Rally
XAU Still Heading Lower…
New Advance Likely After Nov. 10.

 

10/28/17 Weekly Re-Lay:

 

“Gold & Silver extended their latest corrections after dropping into Oct. 5 – 6 (perpetuating a 12-week high-low-(low) Cycle Progression & a 50% correction in time), rallying into Oct. 13/16 when a subsequent high was expected, and then dropping back to month-opening ranges.  That was expected to create a secondary low in late-Oct.

The weekly trends continue to argue that a 1 – 2 month low is intact (Oct. 6).  However, Gold & Silver need to produce weekly closes above 1297.0/GCZ & 17.100/SIZ to re-enter their weekly uptrends and validate that scenario.

The weekly 21 MACs & 21 MARCs are signaling congestion – at least for the next couple weeks.

The XAU (& HUI) remains weaker than Gold & Silver and turned its weekly trend down after turning its weekly 21 MAC down.  It also made it down to its weekly HLS (weekly extreme downside target) at 81.09/XAU.  All of this keeps validating the outlook for an overall decline into Nov. 2017 – when monthly cycles converge.

On an intermediate price basis, several factors (monthly HLS, previous low, weekly trend, wave targets, potential monthly LLS, etc.) are projecting a drop to [reserved for subscribers] – most likely by the end of November.  That is due to some of those indicators being time/price indicators (that would begin to change after November).

From an intermediate cycle perspective, a multi-week low is likely in the first 10 days of Nov., the next phase of multiple geometric cycles – 120 degrees from the July 10 low, 90-degrees from the Aug. 8 low, 60 degrees from the Sept. 7 high & 30 degrees from the Oct. 10 high.

A low on Nov. 6 – 10 would fulfill a ~1-month high-high-(low) Cycle Progression and a ~4-month (a very consistent cycle in metals since 2014) low-low-low-(low) Cycle Progression.  That ~4-month cycle includes lows on Nov. 11, March 9 & July 10 – focusing on the days around Nov. 10.”

 

Gold & Silver fulfilling analysis for secondary low in late-October & are expected to remain above their Oct. 6 lows.  Meanwhile, the XAU is projected to drop to new multi-month lows, leading into first half of Nov. 2017.  A bottom would ideally take hold in the days surrounding Nov. 10.  Cycles & indicators poised to turn back up on Nov. 13 – 17.  Multi-month buy signal also triggered in Gold on Oct. 2 – 6; see Oct. 2017 INSIIDE Track for details & strategy.

 

See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.