Gold & Silver Confirming Cycles

Gold & Silver Confirming Cycles;
Sharp Drop Likely in Coming Week(s).
XAU Poised for Sharpest Decline!.

04/22/17 Weekly Re-Lay:

Gold & Silver reversed lower right after fulfilling all of the 2–4 week upside potential with Gold attacking monthly resistance (1284.2–1298.5/GCM) while Silver spiked to new intra-year highs and its upside LLH objective (18.635/SIK), fulfilling its weekly trend pattern.

That set the stage for a larger-degree pullback, with focus now on an increasingly-synergistic support level in Silver…around [reserved for subscribers]

That range is at [reserved for subscribers] and includes the latest 2 weekly HLS levels, the weekly 21 High MARC & where the current correction would equal the magnitude of the preceding correction.  A .618 retracement – of the entire 2017 rally – sits just below that narrow range.

…Silver is reinforcing its relative weakness after just retesting its recent high & failing.  Consequently, it created a weekly 2 Close Reversal lower while culminating a weekly Turn-Key Reversal pattern that unfolded the past 3 weeks.

At the very least, that should spur a drop to a weekly HLS level and/or to monthly support (now that Silver has again turned its intra-month trend down).  Both of those objectives would be met if Silver drops to [reserved for subscribers] in the coming week.

The XAU initially plummeted after spiking up to 2–3 month resistance at 89.72–90.03/XAU and holding its weekly trend-neutral point.  That was expected to lead to another drop into May 2017 – with an intermediate low possible… [reserved for subscribers]…


Gold, Silver & Gold Stocks are powerfully reinforcing the outlook for April 2017… as well as the overall outlook for 2017.  They are poised to drop sharply after signaling reversals lower in mid-April.  Gold stocks remain the weakest – for multiple reasons – and should see accelerated selling in near-term.  See Weekly Re-Lay & INSIIDE Track for additional details.