Gold Stocks Declining
02/25/17 Weekly Re-Lay:
“Gold & Silver remain strong & are rallying to new multi-month highs, validating near-term signals while nearing fulfillment of the ~4-month cycle that last timed the early-Nov. peaks. A peak in early-March would perpetuate that cycle.
Silver maintains the potential to spike up to 18.820–19.120/SIH (18.885–19.120/SIK)…Gold has tested its intermediate upside target – at 1251.3–1257.5/GCJ – and could reach its primary wave target (rally since Jan. 27th = Dec. 15–Jan. 24th rally) at [reserved for subscribers only].
However, the most important level for Gold, during the first quarter of 2017, is at [reserved for subscribers only]. Gold would need to exceed that level to surpass the magnitude of the May–July 2016 advance and generate a bullish 4-Shadow signal…
The XAU has corrected after rallying into intermediate cycle highs – surrounding Feb. 9–11th – while attacking its weekly 21 High MARC at 97.33/XAU. Combined with several levels of divergence (XAU/HUI) that projected an intermediate peak, which has been confirmed…pinpoints Feb. 28–March 3rd as the most likely time for this bottom…”
Gold stocks selling off from cyclic peak on Feb. 8–9th… as Gold & Silver prepare for intermediate peak. Multiple indicators & divergence project overall (initial) XAU & HUI drop into March 1–3rd… with the potential for additional downside after an intervening bounce. See Weekly Re-Lay & INSIIDE Track for additional details.