Gold/Silver Confirming Peaks
05/04/16 Weekly Re-Lay Alert:
“This further corroborates multi-year cycles projecting 2016 to be The Golden Year, multi-month cycles projecting a 3–6 month surge following the mid-Dec. buy signals & multi-week cycles that projected the second advance to take hold in April–June, after an intervening correction/consolidation in March & early-April.
Keep in mind, however, that this next phase is likely to be even more volatile – with even wider swings – than the mid-Dec.–mid-March advances. One or two of those swings could be seen in May.
Silver – after nearly reaching its intra-month extreme upside objective in April – came within 1 cent of 18.040/SI…Gold came within 2 dollars of a comparable level at 1307.8/GC, attacking its initial upside target for this next phase – at ~1305–1315.0/GC…
[If Gold & Silver do signal intra-month downtrends – and can make it down to ~xxxx.0/GCM & ~xx.xxx/SIN this week – it would set up a unique pattern for next week.]
3–6 month & 6–12 month traders and investors should be holding partial (about 50%) long positions in Gold & Silver from mid-Dec. (~1046–1076/GC & 13.62–13.88/SIH). Hold these until [Refer to May 4, 2016 Weekly Re-Lay Alert for expounded trading strategy revolving around developing top at ~1305/GC & ~18.04/SI.]
The XAU has twice neutralized its daily uptrend and needs a daily close below 82.70 to turn both the daily trend and the new intra-month trend down. That is what it would take to signal that at least a 1–2 week top is intact.” [Refer to May 4, 2016Weekly Re-Lay Alert for additional analysis on developing signals and expectations for a 1–2 month peak in early-May.] 17-day cycle remains in force in Gold, projecting subsequent (descending) highs for April 29/May 2nd & May 16–19th. Intensifying declines could follow each.