Gold & Silver Fulfill Cycle Lows
Gold & Silver Fulfill Cycle Lows…
New Advance Could Follow.
Decisive Signal Possible on Aug. 11th!
08/09/17 Weekly Re-Lay Alert – Gold & the 4-Month Cycle:
“Gold & Silver have initially fulfilled near-term analysis for a secondary low during the ideal week for a low (Aug. 7–11th) and within 1 day of the midpoint of the prevailing, ~2-month cycle (Aug. 9th).
They provided another textbook daily trend pattern, dropping long enough to twice neutralize their daily uptrend before spiking down & reversing higher… without turning those daily trends down. That projected a retest of recent highs, which has already been fulfilled in Gold.
Since they have not yet closed above their early-August highs, Gold & Silver’s intra-month trends are neutral. They would not turn up until daily closes above 1280.3/GCZ & 16.960/SIU.
With Gold & Silver now fulfilling the outlook for an August 7–11th low, it reinforces the focus on weekly & monthly cycles converging in mid-to-late-Sept. ‘17… when the next multi-month low is most likely.
Among other things, that is the next phase of the ~2-month/9-week/60-degreee low (March 10)–low (May 9)–low (July 10) Cycle Progression that pinpointed the July 10th low… now corroborated by a similar ~1-month/30-degree high-low-low-(low) Cycle Progression.
In the interim, Gold could produce another high in mid-August, the latest phase of another 4-month cycle. That is reinforced by the daily trend pattern, which increases the potential for new highs in the near-term (since it could not turn down while Gold was dropping into intermediate cycle lows).
As explained before, that ~4-month cycle governed Gold in 2014–2016 and was expected to trigger a lower high in early-Nov. ’16. Gold fulfilled that and then set ensuing lows in early-March & early-July 2017 – at 4-month intervals.
Meanwhile, an overlapping 4-month cycle emerged from the late-2016 bottom and could now be governing successive highs. Gold rallied for 4 months – from mid-Dec, into mid-April ’17 and could produce a subsequent high in mid-August ‘17 (low-high-high Cycle Progression).
The most revealing aspect of this possibility is whether it is just a quick spike high or whether Gold turns its weekly trend up while rallying into next week.
That would provide another clue as to what to expect (from Gold… not necessarily from Silver or XAU, which continue to diverge from Gold) during Sept. 2017 cycles. Gold needs a weekly close above 1277.0/GCZ to turn its weekly trend up.
Gold is the only one (out of Gold, Silver & XAU) that remains in an intra-year uptrend and in an uptrend basis its weekly 21 MAC. Its monthly trend also remains positive after turning back up in Jan. 2017. That trend pattern continues to project a rally back to the mid-2016 peak (~1377/GC), although it does not specify timing.”
Gold, Silver & XAU fulfill projections for a pullback into Aug. 7–11th. Gold showing renewed strength and could turn weekly trend up on Aug. 11th… as part of quick 1–2 week surge.
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.