Gold & Silver Poised for Intermediate Bounce
11/12/14 Weekly Re-Lay Alert: “Gold & Silver’s Next, Next Phase… The Dollar Index remains on track – on a 1-2 year basis – for an overall advance from May 2014 into late-2015…
Gold & Silver plummeted into intermediate cycles on Nov. 3–7th with Gold reaching the lower 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 has fulfilled expectations for a spike low by Nov. 7th.
A low at this time would create a ~4-month high-high-(low) Cycle Progression, connecting the March 17th high & July 10th high with a Nov. 3–7th low.
Gold & Silver need to turn their intra-month trends up (with daily closes above 1175.0/GCZ & 16.220/SIZ) and daily trends up (with daily closes above 1179.0/GCZ & 15.880/SIZ) to signal that at least 1–2 week bottoms are in place.”
~4-Month/16–17 Week Cycle Reinforced;
Sets Stage for 2015 Lows in March, July & Nov..
1030–1045/GC = Ultimate Objective.