Gold Attacking Decisive Resistance/Targets (~1540/GC); Ubiquitous Cycle Recurs.
08/17/19 Weekly Re-Lay: Gold & Silver have extended their advances into mid-Aug. – the latest phase of Silver’s 18 – 19 trading-day low (3/07/19) – low (4/04/19) – low (5/02/19) – low (5/28/19) – high (6/21/19) – high (7/19/19) – (high) Cycle Progression that is now recurring (Aug. 14/15).
This came in the week after attacking their weekly LHR levels (extreme upside targets) that usually precede a 1 – 2 month peak by 1 – 3 weeks. That indicator would still allow for some additional upside but Gold has arrived at a powerful range of resistance between 1525 – 1540.0/GC.
Its recent high also completed a ‘doubling of the range’ linked to its Aug. ’18 – Feb. ’19 rally. The range created by that rally (1208.6 – 1374.3/GCZ) projects a range target at 1540.0/GCZ. (1208.6 – 1374.3/GCZ = 165.7/GCZ // 1374.3 – 1540.0 = 165.7/GCZ.) In many ways, that is a type of LHR projection, without the constraint of time.
However, there is also a form of cyclic LHR also involved in this action. It is basically what I refer to as a low – high – high Cycle Progression. Gold set its bottom in Aug. ’18 and rallied for ~6 months (180 degrees) into Feb. ’19. That ‘low – high’ cycle projects an ensuing high ~6 months later – in August 2019. That is similar to what the XAU has been projecting…
For now, Gold & Silver remain in powerful uptrends until daily closes below 1489.0/GCZ & 16.680/SIU.”
Precious metals surge as stocks are fulfilling ‘August 2019 Plunge Cycles’ – projected to spur sharp equity sell-off into late-Aug. ’19. Gold’s May 31 monthly buy signal maturing. Silver, Platinum & XAU coinciding, with rallies projected to last into/through Aug. ’19. XAU monthly trend pattern focused on Aug. 30 for a signal (that could time a multi-month peak while reinforcing the outlook for future strength after an intervening sell-off).
1525 – 1540.0/GC, 18.50/SI & 100.60/XAU upside objectives being attacked!
What Next?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.