Palladium Corroborating Outlook for Gold & Silver; 2 – 3 Week Drop Expected!
Palladium Corroborating Outlook for Gold & Silver; 2 – 3 Week Drop Expected!
03/27/19 Weekly Re-Lay Alert:
Gold & Silver are fulfilling the potential for a secondary high and the onset of another sell-off… at least in Silver – to new correction lows.
In another example of the roller coaster analogy, this latest sell-off came on the heels of Palladium topping and producing a succession of reversal signals on March 22 – 26. That comes after it surged into the latest phase of a 29 – 31 week high-high-high-high-high-low-high Cycle Sequence – perpetuating a ~7-month cycle that dates back to Oct. 2015 – and peaking on March 18 – 22.
That peak also fulfilled an over-arching ~14-month/59 – 61 week high-high-high-(high) Cycle Progression. A weekly close below 1455.0/PAM is needed to confirm an intermediate peak.
It also came after Gold spiked to new rebound highs while Silver failed to do the same. That repeated the divergent weakness seen in Silver – another reason it is expected to drop below its March 7 low (14.985/SIK) as part of this overall correction.
If Silver perpetuates its ~5-month/20 – 22 week high-high-high-high-low-(low) Cycle Progression, it should bottom on April 1 – 19, with April 8 – 12 providing the ideal week for a bottom. A low on April 8 – 12 would also complete a 50% retracement in time (14 weeks up/7 weeks down) and a 5-week high-low-(low) Cycle Progression…
The XAU set its highest daily close of 2019 while fulfilling analysis for a quick spike up to weekly and monthly resistance (and other targets) – at 78.37 – 79.82/XAU…
That would still be consistent with metals (particularly Silver) seeing another sell-off into April 8 – 12 AND it would still reinforce the likelihood for higher highs leading into mid-year, potentially stretching into July or even August 2019 (in the XAU).”
Gold, Silver & XAU poised for new declines in April as XAU fulfills analysis for spike up to 79.82/XAU in March. Weekly LHRs portend intermediate peaks – that could hold for 1 – 2 months – at this time. Palladium reinforcing potential for April sell-off in precious metals.
How Low Should April Sell-offs Drop?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.