Gold/Silver Confirm Early-April Cycle Lows
04/16/16 Weekly Re-Lay:
“Gold & Silver surged to begin the week, extending their recent rebounds as Gold turned its daily & intra-month trends up & Silver rallied to new highs. That finally allowed Silver to reverse its weekly trend to up – a lagging/confirming indicator that was needed to diminish any remaining potential for new lows in 2Q 2016.
That pattern, paradoxically, sets the stage for an initial intermediate peak in the ensuing 1–2 weeks…Gold has related, intermediate cycles on April 25–29th that could also time the next 2–4 week peak IF it reverses higher without turning its daily trend back down. Gold remains in a 1–2 month trading range and has not (yet) signaled the onset of a new impulse wave.
That late-April cycle is also the mid-point of the current ~90-degree high-high cycle – separating the mid-March peak with an expected mid-June peak. That is the next cycle high – ~90 degrees from the mid-March peaks and the next phase of a ~90-degree low-high-high Cycle Progression.
Silver is now testing its late-Oct. ’15 high (16.380/SIK) and would need to give a weekly close above that 6–9 month resistance to extend this current rally…
3–6 month & 6–12 month traders and investors should be holding partial (about 50%) long positions in Gold & Silver from mid-Dec. (~1046–1076/GC & 13.62–13.88/SIH)… Hold these until [reserved for subscribers only].. [FUTURES TRADING INVOLVES SUBSTANTIAL RISK!]
Gold remains in congestion but may have just set a secondary low after fulfilling the 17-day high-low-(low) Cycle Progression discussed earlier this week…The one factor that is still weighing on Gold is its daily 21 MAC, which has been unable to turn back up. The corresponding 21 MARC will begin to head lower in the current week, opening a window of opportunity for this channel to turn back up. If so, that would project a rally into intermediate cycles on April 25–29th.”
Gold & Silver validating April cycle lows that were fulfilled with April 4th low closes (lowest closes in 4–5 weeks & lowest closes of multi-week corrections). Near-term cycles project a surge into late-April (17-day cycle could extend that intoMay 2nd) while intermediate cycles continue to anticipated an overall April–June advance.