Silver Retests Lows on Nov. 13 and Fulfills Weekly, Monthly & Multi-Year Cycles; What This Means for 2019…
Silver Retests Lows on Nov. 13 and Fulfills Weekly, Monthly & Multi-Year Cycles; What This Means for 2019…
11/14/18 Weekly Re-Lay Alert: “Gold & Silver sold off after running into steep resistance at their descending weekly 21 MACs while failing to turn their weekly trends up. They turned their intra-month trends down, exhibiting a little more near-term weakness and extending their sell-offs into Nov. 13 – the time when XAU cycles forecast a low…
The XAU fulfilled intermediate analysis for a drop into Nov. 13, the latest phase of a ~2-month/60-degree Cycle Progression…The first sign of a reversal higher would be a daily close above 65.13.”
Gold, Silver & the XAU fulfilled the potential for a final round of selling into cycle lows on Nov. 13. Silver did spike to new lows as Gold set a secondary low in preparation for a larger-magnitude advance. Gold stocks and the Gold/Silver Index (XAU) concur and also set a decisive low on Nov. 13. All of this should prompt an initial rally into early-Dec.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.