Gold/Silver Confirming MAJOR Lows
04/28/16 INSIIDE Track:
“Gold & Silver have fulfilled the potential for a multi-quarter (possibly multi-year) bottom after Gold reached its secondary 3–5 year downside target – and its primary downside target for the year of 2015 – at 1033–1045.0/GC. That is where a Major bottom was considered most likely.
That low coincided with Silver fulfilling Major, multi-year cycles, wave projections & retracement levels in Dec. 2015 – and projecting an overall advance into 2018 (with a secondary/higher low expected – after a 3–6 month surge – in late-2016).
Gold & Silver provided add’l levels of decisive confirmation – to the overall outlook for 2016 – The Golden Year(and for April–June to be the next advance in this new bull market) – in the opening days of April… and finally removed any remaining uncertainty for Silver. Both pulled back and set their lowest daily closes – of their multi-week corrections (and the lowest closes since late-Feb.) on April 4th.
More significantly, Silver turned its weekly 21 MAC up on that same day – a lagging/confirming indicator that usually turns up near the culmination of a ‘2’ wave pullback & ushers in the likelihood for a dynamic & accelerated ‘3’ wave advance. Silver then validated that by closing the week (on April 8th) back above the weekly 21 High MAC. That removed a critical potential negative that had been looming over Silver.
The early-April low came as Silver was nearing its late-Feb. low – the daily ‘4th wave of lesser degree’ (support for a ‘2’ wave pullback). It took place during the convergence of weekly cycles – in the first half of April – that were expected to usher in a more bullish phase of this 3–6 month (or longer) advance – accelerating through April 19th.
To quote the Feb. 27, 2016 Weekly Re-Lay:
Gold & Silver then proceeded to check off a progressive list of confirming bullish factors, with Gold turning its intra-month & daily trends up (April 8th & 11th) – signaling that an intermediate bottom was intact and that acceleration higher was likely. The April 11th Weekly Re-Lay Alert summarized it this way:
Gold has related, intermediate cycles on April 25–29th that could also time the next 2–4 week peak IF one of those accelerated advances is seen next week… and takes Gold to new highs.
That is also the mid-point of the current ~90-degree high-high cycle – separating the mid-March peak with an expected mid-June peak, as expressed in the ongoing outlook. The middle half of June 2016 is the next phase of a related ~90-degree low-high-high Cycle Progression that also includes the mid-Dec. low…The XAU is breaking out to the upside…” [End of 4/11/16 Alert excerpt.]
This excerpt is included to also highlight the intermediate cycles coming into play in Gold on April 25–29th… when the culmination of an accelerated move higher is possible. Daily cycles could push that into May 2–6th but it would not be surprising to see another multi-week consolidation during the month of May. Gold maintains its next set of upside objectives around 1305–1315.0/GC.
6–12 month & 1–2 year traders & investors could have begun to accumulate long positions in Gold & Silver in late-July/early-August and then added longs in early-Jan. Hold these positions and use [reserved for subscribers]… [FUTURES TRADING INVOLVES SUBSTANTIAL RISK!]
The XAU could not produce a close below 61.00 – delaying an intermediate correction to its developing uptrend. As a result, it accelerated its advance and could surge to its 3–6 month upside target – around 105.00/XAU – before June.
Platinum is reinforcing analysis for a multi-year bottom in late-2015 – perpetuating a 7-year low-low-low Cycle Progression. It also turned its daily & intra-month trends up in early-April and then broke out to new highs on April 19th(Date of Aggression). While ~1290.0/PL is primary 6-12 month resistance for 2016, ~1180.0/PL is 3–6 month resistance leading into June 2016. Based on the monthly LHR pattern & a 360-degree cycle, a 1–2 month peak is likely in May 2016.
Palladium remains in a Major downtrend after fulfilling multi-year cycles & multi-year upside price targets in Sept. 2014. It has violated its March ‘16 high, so Palladium is in a higher-degree rebound (than originally perceived) and could progressively move back toward 725.0/PA before peaking. A ~7-month/31-week cycle divides the two prior peaks and comes back into play on May 2–13th.
Copper is confirming analysis for a Major low, perpetuating a ~7-year low-low-(low) and an 11-12 month high-high-high-high-low-(low) Cycle Progression. It provided textbook validation to its 1Q ‘16 signals by pulling back in early-April, testing intermediate support while twice neutralizing its weekly uptrend & retracing .618 of its initial advance.
Simultaneously, Copper tested its weekly 21 Low MAC – as that channel was flattening – and bottomed. The following week, Copper turned higher (90 degrees from the onset of its first advance) & reversed its weekly 21 Low MAC up – confirming a ’2’ wave bottom. Like most metals, Copper saw its accelerated move take hold on April 19th – the Date of Aggression – when bullish cycles were expected to spur new surges.”
Gold & Silver fulfill April 4–8th cycles and analysis for sharp advance surrounding April 19th – the Date of Aggression. Cycle highs portend April 29th/May 2nd peak with Gold 3–6 month target still at 1305–1315.0/GC (expected peak for 2Q 2016). New decline likely after May 2nd. Actions of April 2016 (worldwide) corroborate longer-term cycles & analysis and project critical focus to 2017… and to April 2017. Refer to ’40-Year Cycle: Date of Aggression’ Report for details.