Gold & Silver Vulnerable

Gold & Silver Vulnerable
Holding Resistance & Cycle High
Late-Nov. = Decisive Period.


11/21/17 Weekly Re-Lay Alert:

Gold & Silver remain neutral on a 1 – 2 month basis and are back to neutral on a 2 – 4 week basis – locked in a 6 – 8 week trading range between the Sept. 20 highs & Oct. 6 lows.  Both sold off after surging last week with Gold testing & holding its weekly trend resistance (preventing it from turning that trend back up) and its weekly 21 MAC at its highs.

They did this while fulfilling a 21-day low-low-(high) Cycle Progression & setting near-term highs on Nov. 17.  The next phase is on Dec. 8 & could time another high.  Gold needs to produce a weekly close above 1297.0/GCZ to re-enter its weekly uptrend and confirm a multi-month low.  In the interim, Gold & Silver should not give weekly closes below 1262.8/GCZ & 16.640/SIZ.

The biggest threat is that Gold & Silver spike below their Oct. lows, which would reset the 3 – 6 month wave structure & delay the bottom of the ‘2’ of ‘3’ of ‘3’ wave.  While that is still not the expectation, based on the weekly trend patterns, it should be addressed since Gold & Silver are struggling to get some positive momentum building.

The XAU remains weaker… A daily close above 81.02/XAU is needed to give the very first signs of a multi-week reversal higher, while a daily close above 82.60/XAU would give a more convincing sign.”


Gold & Silver rallied into daily cycles on Nov. 17 and again held monthly (and new weekly) resistance – increasing the potential for some negative pressure as the XAU remains on track for a drop to 77.50 – 78.50.


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