Gold Forming Resistance; Silver Poised for Rally into ~June 14.

Gold Forming Resistance; Silver Poised for Rally into ~June 14.

05/26/18 Weekly Re-Lay:

“Gold & Silver are rebounding after bottoming during the latest phase of an 11-week & 22-week low-low-low Cycle Progression.  It would take a daily close above 1307.2/GCM to give a more convincing sign of a multi-week low taking hold.

On an intermediate basis, both metals could see an overall advance into June 11 – 15 (+ or – 1 week) – the latest phase of a 20-week high-high-high-(high) Cycle Progression.  That does not, however, imply a straight up rally…Gold is forming synergy of resistance levels at 1314.3 – 1317.4/GCM with Silver having similar resistance at 16.76 – 17.00/SIN…

1 – 3 month traders could have entered long positions [reserved for subscribers].

The XAU is rebounding after dropping to its weekly 21 Low MAC (81.23) while remaining above its weekly 21 Low MARC (80.77) last week.  It neutralized its daily uptrend multiple times but would not turn that trend down until a daily close below 81.09/XAU…

1 – 4 week traders could have entered long positions in the XAU (or related vehicles) at 81.32 – 82.06 and should risk/exit [reserved for subscribers].  Exit 1/2 if/when xx.xx/XAU is hit.”  TRADING INVOLVES SUBSTANTIAL RISK

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Gold, Silver & Gold/Silver Index (XAU) remain positive into June 11 – 15, when another multi-week peak & reversal lower is most likely.  Silver could match the duration of its Dec./Jan. rally with an advance into ~June 14 (the precise date of the 20-week cycle from the Jan. 25 peak) while Gold is expected to set a lower high at that time.  Its weekly trend pattern projects new lows after that rebound.  See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.