Gold & Silver Confirming Multi-Week Lows

Gold & Silver Confirming Multi-Week Lows.
1–2 Month Bottom Possible;
Lower Lows Still Expected in 2015.

11/15/14 Weekly Re-Lay: “Gold & Silver plummeted into intermediate cycles on Nov. 3–7th with Gold reaching thelower end of its primary, 3–5 year downside target (1127.0–1132.0/GC) while Silver bottomed out just above its respective target (14.650/SI).

That fulfilled expectations for a spike low by Nov. 7th – creating a ~4-month high-high-(low) Cycle Progression, connecting the March 17th high & July 10th high with a Nov. 3–7th low.  It also created a 22-week low-low-(low) CycleProgression, connecting the Dec. 31st low & June 3rd low with a Nov. 3–7th low.

Gold & Silver were able to confirm those lows by turning their daily & intra-month trends up while completing the past week with another pair of outside-day/2 Close Reversals higher… also creating daily 2-Step Reversals higher (when combined with the outside-day/2 Close Reversals of Nov. 7th).

That is a pretty powerful combination of signals – validating that at least a 2-4 week bottom and potentially a 1-2 month bottom is intact.  The initial upside objective is a test of the late-May/early-June lows (support turned intoresistance) of 1241.7/GCZ & 18.700/SIZ.

In Silver, that coincides with the Dec. 31st low of 18.895/SIZ.  In the near-term, Silver could encounter initial resistancearound 17.750/SIZ.  How Silver acts at that level should have a bearing on what to expect leading into late-Dec./early-Jan. and whether new lows are possible by then… or more likely to wait until later in 2015.

The XAU fulfilled expectations for an overall decline into Nov. 4–6th and is/was expected to subsequently rally to 74.60–75.85 – where monthly resistance, the weekly trend point and a key level of support turned into resistanceconverge.  A surge above 80.00/XAU is possible as part of this rebound.”


Quick Surge to ~1240/GC & 17.75/SI Expected.