Gold & Silver Uptrends Intact; 2 – 3 Day Sell-off Could Set Stage for Rally into Late-Jan/Early-Feb. Cycle Highs.
Gold & Silver Uptrends Intact; 2 – 3 Day Sell-off Could Set Stage for Rally into Late-Jan/Early-Feb. Cycle Highs.
01/16/19 Weekly Re-Lay Alert: “Gold & Silver remain positive but have fulfilled almost all that was expected from the late-Nov. buy signals. Gold spiked above 1290/GCG as Silver attacked 16.00/SIH and both rallied into Jan. 2 – 4, the convergence of daily & weekly cycles…
Since then, both have hesitated but remain in intermediate uptrends until daily closes below 1278.1/GCG & 15.490/SIH. If/when Gold & Silver signal reversals lower, they could see very quick declines – potentially culminating within a few days.
The XAU is fulfilling expectations for a correction into Jan. 14 – 18, the next phase of a ~9-week/~60-degree high-low-low-(low) Cycle Progression.”
Gold, Silver and Gold/Silver Index (XAU) are fulfilling multi-week consolidation with multiple weekly cycles in Silver projecting a secondary low in the current week(s). If a new decline takes hold, it could culminate within days. That should then yield another rally into late-Jan./early-Feb. when slightly larger-degree cycles peak. The XAU remains focused on a pair of cycle highs – in late-Jan./early-Feb. and then in March 2019.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.