Gold Projected Drop into early-March Unfolding.
02/18/15 Weekly Re-Lay Alert: “Gold & Silver continue to reinforce their Jan. 20–23rd cycle highs and the corresponding analysis for a drop into early-March. The weekly trend signal – triggered on Jan. 23rd – projects an ultimate retest of the 1132.1/GCJ low of Nov. 7th.
The January lows (1168.3/GCJ & 15.545/SIH) are decisive support in the interim. It would take daily & then weekly closes below these levels to turn the intra-year trends down and to validate the overall analysis for a drop into June/July 2015 (since an intra-year downtrend would portend a decline into mid-year)…
A low in early-March would perpetuate a ~4-month high-high-low-(low) Cycle Progression AND complete a 50% retracement in time for Gold.
On a near-term basis, several indicators reinforced the bearish outlook and increased the likelihood for an accelerated decline this week. The daily 21 MACs were one of those. In Gold, that channel had already flattened and was poised to turn down. In Silver, the daily 21 MAC was still mildly positive but the corresponding daily 21 MARCs had identified Feb. 17–20th as the likely time for a reversal lower in that channel. As stated on Feb. 14th:
“However, that struggle will become more difficult as the coming week unfolds since the corresponding daily 21 MARC will rocket higher with the daily 21 High MARC moving from 17.240 on Feb. 17th to 18.505/SIH on Feb. 20th.
As those increasing ‘replacement values’ are removed from the calculation of the 21 MAC (and new ones factored in), the averages that make up that channel are poised to decrease…”
Sure enough, Silver plummeted on Feb. 17th, turning the daily 21 Low MAC down (when it dropped below 16.710/SIH) and then confirming that by turning the daily 21 High MAC down today.”
Gold & Silver are reinforcing analysis for sharp drop from Jan. 23rd into March 6th… as part of overall decline into mid-2015. If Gold & Silver reach their intermediate downside targets – at 1168.3/GCJ & 15.545/SIH – by/on March 6th, it would powerfully corroborate this overall scenario!
All of this is reinforcing the 40-Year Cycle in Gold & Silver that projected a MAJOR peak in August 2011 (EXACTLY 40 years from the Nixon Gold Shock of August 1971) and an overall decline into mid-2015. That should ultimately lead to a new advance in Gold & Silver – beginning as early as July 2015 – and ushering in ‘The Golden Year’ of 2016.