Gold Stocks (XAU) Hit Upside Target
07/26/17 Weekly Re-Lay Alert:
“Gold & Silver have rallied after precisely fulfilling projections for a multi-week low on July 10th, the latest phase of a ~2-month/60-degreee low (March 10)–low (May 9)–low Cycle Progression AND a 17–19 day high-high-high-(low) Cycle Progression in Gold. That ~2-month cycle could produce another low around Sept. 11th (with a possible intervening low on Aug. 9–11th, the midpoint of that cycle).
They turned their daily 21 MACs up, reinforcing their daily uptrends (and Gold’s intra-month uptrend) while fulfilling cyclic projections for a quick surge from July 10th into July 24–28th – the latest phase of a 7-week high-high-high-(high) Cycle Progression that timed the early-June peak.
As explained in recent weeks, a peak on July 24–28th would corroborate an already-synergistic scenario calling for a drop from late-July into early-September. Gold & Silver have reached initial upside targets for this rally, with Gold capable of spiking up to the convergence of its weekly resistance, weekly 21 High MAC & weekly 21 High MARC – grouped at 1266.8–1270.4/GCQ (1273.1–1277.0/GCZ).
The XAU also fulfilled projections for a rally from July 10th that quickly projected a surge to 85.10–85.60. It has just fulfilled that objective and could set a peak in the coming days, after a 50% rebound in time. That would set the stage for a drop into its next intermediate cycle low – August 7–11th – as part of an ongoing, ~5-month trading range.”
Gold & Silver have fulfilled most of their rebound potential but could still see additional spike highs, before turning back down in early-August. The XAU (Gold stocks) just reached its rebound price target and is poised to enter a new drop – into August 7–11th. Sept. 2017 = Decisive cycle convergence in Gold!
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.