Gold/Silver = March ’15 Cycle Low
04/25/15 W. R. “Gold & Silver remain on track for an overall decline into late-June/early-July 2015 – when a myriad of longer-term cycles (weekly, monthly, yearly & multi-year) portend an important bottom…
On a short-term cycle basis, Gold – with its April 14th low – perpetuated a 14-day low-low-low Cycle Progression that next comes into play on April 28th. That recent sequence is at the tail-end of a larger, 12–14-day low-high-high-high-high-low-low-low Cycle Progression – dating back to before the January 22nd peak.
Based on a textbook Cycle Progression sequence, April 28th should time another low. That is reinforced by the intra-month downtrend in Silver and the latest sell-off in Gold.
A corresponding 49-day high-low-(low) Cycle Progression in Silver projects a low for April 29th (and could then project a subsequent low for mid-June). That initial 7-week decline was almost identical to the duration of the preceding Dec./Jan. rally… so a drop below the March lows – in the coming week – would complete an overall 14-week decline that is twice the duration of the preceding (7-week) rally.
The XAU neutralized its intra-month uptrend but remains in a daily uptrend. That means it would take until April 29th – at the very earliest – to reverse the daily trend to down. The reason for mentioning this is that the XAU – similar to Silver – has a 49-day high-low-(low) Cycle Progression that projects a low for April 29th.
The weekly 21 MAC is flattening but could have mixed impact in the coming weeks.”
April 28th/29th Low Could Spur Rally into May 18–22nd… Watch 1235.0/GCM.