Precious Metals Peaking! Gold, Silver & XAU Reach Extreme Upside Targets & Fulfill Cycle Peak. Sharp Sell-off Could Follow.
Precious Metals Peaking! Gold, Silver & XAU Reach Extreme Upside Targets & Fulfill Cycle Peak. Sharp Sell-off Could Follow.
02/20/19 INSIIDE Track: Gold & Silver 2019 – Cycle Crescendo?: “A Collision of Cycles
02-20-19 – Gold & Silver have just surged to decisive resistance levels and upside targets – during the convergence of a myriad of weekly & monthly cycles – ushering in a pivotal period. In doing so, Gold is also fulfilling what was described in the Feb. 9, 2019 Weekly Re-Lay Alert…
The Dollar peaked on Feb. 14 and sold off to begin this week, allowing Gold (and the XAU) to see quick, accelerated moves higher. However, they are running into critical resistance levels – just above 1350/GCJ & 80.00/XAU – as a couple other cycles portend a multi-week top (on Feb. 19 – 22).
Gold just surged to dual weekly LHR levels (extreme upside targets for this week) at 1344.5 – 1345.2/GCJ while testing the monthly Raw SPR (1350.0/GCJ) and overall monthly resistance (the projected high for Feb. 2019) at 1350.5 – 1363.4/GCJ. That comes into play just below 3 – 5 year resistance at 1365 – 1377/GC.
At the same time, Silver retested its high (16.20/SIH) while twice neutralizing its daily downtrend… this is as high as Silver should surge IF it is a ‘b’ wave rally prior to a ‘c’ wave decline (as is suspected). That would provide a textbook divergent top – with Silver peaking at or below its previous high as Gold sets a new (higher) high.
Silver has just spiked up to 3 of its latest 4 weekly LHR levels (extreme upside target for this week at 16.025 – 16.260/SIH) – in the 2-day period when the daily LHR portends a top (Feb. 19/20) – reinforcing it is at a DECISIVE level.
Similar to Gold, the XAU has accelerated to the upside and is attacking its monthly projected high/resistance at 80.42 – 82.56. That also includes the descending monthly 21 High MAC.
So, all three are fulfilling multi-week, multi-month, multi-quarter & multi-year cycles while surging up to weekly extremes and monthly resistance levels.”
Gold, Silver and the Gold/Silver Index (XAU) have fulfilled extreme upside price targets at the same time daily, weekly & monthly cycles are producing the greatest synergy for a decisive peak (~Feb. 20). Silver’s daily trend pattern and weekly extremes are creating a textbook setup for a divergent peak… and subsequent plunge back below 15.000/SI. Multiple factors, including the Dollar outlook, usher in a dangerous period between now and early-March.
How Sharp of a Sell-off is Expected?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.