Gold Projects Surge to 1275.0/GCJ
03/25/17 Weekly Re-Lay:
“Gold & Silver have rallied after twice neutralizing their weekly uptrends and bottoming during the latest phase of an 11-week low-low-low-(low) Cycle Progression in Silver on March 6—10th.
On March 17th, Gold re-entered its weekly uptrend and turned its intra-year trend back up. That projected a rally back to the late-Feb. high of 1264.9/GCJ… which remains the near-term objective. A spike above that level – and potentially to the ~1275.0/GCJ area – remains a distinct possibility.
The XAU continues to struggle after peaking in perfect lockstep with intermediate cycles (Feb. 8/9th) and dropping to new 2017 lows while turning its weekly trend down. The early-March low perpetuated an 11-week low-low-low-(low) Cycle Progressionwhile precisely testing & holding monthly support & the monthly Raw SPS…
It would take a daily close above 85.59/XAU to extend this rebound and re-energize the potential for a test of 87.40 (50% rebound).”
Gold is reinforcing its bullish structure and increasing the potential for a surge to/above 1275.0/GCJ. Silver’s weekly trend needs to corroborate that even as the XAU & HUI Indexes are signaling an intermediate bounce that should top out below their early-Feb. highs. The XAU needs new validation to the potential for a surge above 88.00/XAU before this bounce is complete. See Weekly Re-Lay & INSIIDE Track for additional details.