Gold/Silver Sell Signals Escalate
08/24/16 Weekly Re-Lay Alert – ‘Golden (& Silver) Geometry – III’:
“Gold & Silver continue to adhere to geometric cycles, with the latest phase projecting a secondary high in the first 1–3 days of August, followed by a sharp decline into late-August.
The early-July sell signal in Gold was corroborated by the early-August sell signal in Silver (after Silver reached extreme upside targets on a daily, weekly AND monthly basis) …strengthening the case for a substantial drop during the month of August.
That was subsequently confirmed by the XAU signaling a short-term peak on Aug. 11th/12th – as it attacked its 2–3 month & 3–6 month upside targets – and then turning negative & confirming an intermediate top on Aug. 19th… and projecting a multi-week drop to at least ~80.00.
These geometric cycles portend another pivotal time in early-September…
Gold & Silver remain below their early-July highs, increasing the potential that they are entering a ‘c’ wave decline after completing what was expected to be a ‘b’ wave bounce into early-August… when geometric cycles recurred.
That could produce a subsequent (lower) high around Sept. 1st (+ or – 1–2 trading days). Silver has already confirmed a ‘c’ wave down while Gold would need to drop below 1318.5/GCZ to do the same.
The outlook for Gold & Silver has been to see a second sell-off from early-August into late-August – the next phase of a ~90-degree cycle that has timed intermediate lows (in either Gold, Silver or both) in late-Nov. ’15, late-Feb. & late-May ’16. That remains the near-term outlook.
The developing decline should carry Gold & Silver down to their near-term objectives at 1308.0/ GCZ & 18.000/SIU… and could ultimately spur drops to ~1260.0/GCZ & ~16.000/SIU…
The XAU has dropped sharply since signaling that an intermediate top is intact. This comes right after the XAU attacked its 2–3 month LLH objective.
The XAU neutralized its weekly uptrend last week, projecting an ensuing 1–2 weeks of downside follow-through. Ultimately, however, this drop could last into [reserved for subscribers only].”
Gold & Silver reinforcing expected mid-2016 peak. 3–4 month drop projected for 3Q & 4Q 2016. Gold should reach 1260.0/GC by early-October while Silver has a primary downside target of 16.000/SI. See publications for additional analysis & trading strategies as well as projected timing for ultimate bottom in 4Q 2016.