Gold & Silver Pull Back to Support

Gold & Silver Pull Back to Support;
Silver Triggering Daily Trend Signal.
New Surge into early-Feb. Expected.

 

01/10/18 Weekly Re-Lay Alert:

Gold & Silver have surged and twice neutralized their respective weekly downtrends, after bottoming in the first half of Dec. and fulfilling multiple (yearly, monthly & weekly) cycle lows.

It would take weekly closes above 1327.3/GCG & 17.325/SIH to reverse the weekly trends to up.  Regardless of what occurs in the coming days, the overall outlook remains for an advance into Feb. 2018.

Gold powerfully validated that outlook by producing an outside-month 2 Close Reversal higher in December, as Silver completed a corresponding monthly 2 Close Reversal higher.  Those signals project an ensuing 1 – 3 months of additional upside that should help support Gold prices into February.

Gold has the next phase of an ongoing 18 – 21 week cycle – that could produce a multi-week peak – coming into play between mid-Jan. & early-Feb.  A rally into early-Feb. – the final week of that cycle – would also complete a 29-week low-low-(high) Cycle Progression & a 14-week drop/7-week advance (50%) sequence, as well.

On an intermediate basis, Silver could also still set an important high in Feb. 2018.  Since its bottom in Dec. ’15, Silver has had 5 significant advances – each lasting ~2 months (Dec. ’15 – Feb. ’16, Mar. – May ’16, May – Jly. ’16, Dec. ’16 – Feb. ’17 & Jly. – Sept. ’17).  A similar, ~2-month advance would take Silver higher into Feb. ’18 – when other monthly cycles converge.

A peak in Feb. 2018 would also complete successive ~7-month advances (Dec. ’15 – July ’16 & July ’17 – Feb. ’18) AND a ~9.5 month high (July ’16) – high (mid-April ’17) – high (Feb. 2018) Cycle Progression.  A .618 rebound in time (12 months down/7 months up) would also peak in Feb. ’18.

[It is also intriguing that Palladium has multi-year cycles projecting a peak for 1Q 2018 – most likely in Feb. 2018.  Copper has cycles peaking in Feb. 2018.]

Based on wave comparisons & its recurring 2.50 point range, Silver could make it back up to ~18.50/SI.

In the short-term, Gold & Silver attacked 2 – 3 month resistance (1315 – 1322.0/GCG & 17.45 – 17.60/ SIH) as they completed initial surges into early-Jan.  That was expected to spur a reactive pullback, which is taking place.

Gold tested weekly support, its weekly 2nd Close Support and its weekly 21 High MARC support – all grouped at 1309.3 – 1311.5/GCG – and is attempting to hold that near-term support.

Meanwhile, Silver has spiked to new intra-month lows while twice neutralizing its daily uptrend (but not turning its intra-month trend down).  Silver would need [reserved for subscribers].

The XAU has corrected after reversing its weekly trend up…Multiple monthly targets, extreme targets & key resistance projections group at 92.87 – 93.06/XAU in January and could be tested before month-end.

Intermediate (2 – 4 week & 1 – 3 month) traders could have entered Gold stocks or related instruments before mid-Dec. and can now [reserved for subscribers].”  TRADING INVOLVES SUBSTANTIAL RISK!…

Gold, Silver & the XAU have provided the expected pullbacks with all three reaching key levels that portend a new rally in the coming weeks.  This reinforces the overall outlook for a dramatic rally from the Dec. 11/12 buy signal into Feb. 2018.

See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.