Gold & Silver Poised to Plummet

Gold & Silver Poised to Plummet;
Nov. 9–18th = Precarious Period.
Copper Surging into Nov. 10/11th Cycle.

11/09/16 Weekly Re-Lay Alert – Post-Election Boomerang: 

Gold & Silver spiked higher overnight but have not turned their intra-month trends up.  Similarly, Silver has not turned its daily trend up, leaving open the potential for a drop to new 3–4 month lows in the coming week.

In spiking higher, Silver attacked the combination of its weekly & monthly resistance (during the week after it tested & held its weekly LHR) as Gold spiked right to its weekly 21 High MAC and turned back down.  Gold then plummeted below its weekly 21 Low MARC, turning the 21 Low MAC down.

That weekly 21 MARC surges in the coming weeks, reinforcing the 21 MAC downturn and likely adding more negative pressure in the near term.

This high perpetuated Gold’s 8–9 week high-high-high-high Cycle Progression (Oct. 31–Nov. 11, 2016) even as it has potentially extended the time for a final spike low in precious metals.

Silver’s greatest synergy of daily & weekly cycles (which would also fulfill monthly cycles) projects a low on Nov. 9–18th, which is still a strong possibility…

If today’s spike high holds, Silver would have an additional price projection targeted at ~16.000/SIZ, potentially spiking a little below that.  That is where the latest decline, from 19.005/SIZ, would match the magnitude of the preceding early-Sept.–early-Oct. decline.

Looking at the bigger picture – which has repeatedly called for a secondary bottom in 4Q 2016 (higher than the Dec. 2015 bottom but lower than any lows since the July 2016 peaks) – Silver has now joined Gold in triggering a corroborating signal…

By exceeding the magnitude of its two previous rebounds, Silver has triggered a 4-Shadow signal that increases the likelihood of an impending bottom.  That usually leads to a final decline – and at least a retest of the latest low – before a more sustained advance takes hold.

It accomplished this without turning its daily trend up, setting the stage for a new decline.

The XAU retested its early-Nov. high and reversed lower reinforcing that 6-week high-high-(high) CycleProgression.

This comes after the XAU matched the magnitude of its two previous rebounds and fulfilled other wave equivalence, setting the stage for a new decline.  It would take a daily close below 85.34/XAU to confirm.

Copper is also worth discussing as it surged after giving a textbook weekly trend signal – projecting a surge to new highs – while perpetuating the 20–21 week low-low-low-(low) Cycle Progression that projected a bottom for Oct. 24–Nov. 4th.

As previously discussed, this is increasing the likelihood that Copper will lead the other metals in the next multi-month advance.  2.5000/HGZ is its intermediate upside objective.  Copper is set to put in an initial top in the coming days (Nov. 10–11th), the latest phase of a 17-week high-high-(high) Cycle Progression.”

Gold, Silver & Gold Stocks are increasing probability for sharp drop (3–4 day plummet?) in coming days… into decisive cycles on Nov. 11–18, 2016.  Gold stocks concur.  Late-2016 remains expected time (discussed since late-2015) for secondary bottom in Gold.  Spike below 1220.0/GCZ & below 16.000/SIZlikely before a bottom becomes more likely.

Copper skyrocketing into Nov. 10/11th cycle high – when initial peak is still expected… corroborating expectations for returning commodity inflation in 2017.  Gold & Silver should follow, lagging as usual.  See publications for additional analysis & trading strategies.  Also, see 40-Year Cycle: Golden Years & 2016 – The Golden Year Reports for details on outlook for late-2016 into 2018 (and beyond).