Gold & XAU Fulfill Bounce into Sept. 24/25 & Peak at Resistance; Signal New Sell-off into Early-Oct & to 1467/GCZ… Honing Outlook for Oct. – Dec. ’19.
09/25/19 Weekly Re-Lay Alert: “Gold & Silver were expected to rally into Sept. 25 – in sync with daily cycles, daily trend patterns, daily 21 MARCs – and then resume their declines…
Gold & Silver surged into Sept. 25 and then abruptly turned lower (after Gold had given two neutral signals to its daily downtrend) – fulfilling all of these factors and ushering in what was/is expected to be the next phase of a larger-magnitude, intermediate sell-off.
Its daily 21 High MARC resistance, while peaking, was at 1540.3/GCZ. Gold set its highest close at 1540.2/GCZ.
This peak also fulfilled the latest phase of a 15 – 17 trading day high-high-high-(high) Cycle Progression that now projects an overall decline into [reserved for subscribers]… That is likely to unfold in multiple, multi-day waves/phases.
For now, the daily trends are negative and projecting drops to new lows. With Gold’s recent peak, a ‘c = a’ wave target (new decline = initial decline) projects a drop to ~1467.0/GCZ. That is exactly where the previous high (July 19) resides – a pivotal level of ‘resistance turned into support’…
In addition, this has been the primary downside objective since the peak was set in late-Aug./early-Sept. (“Gold declining to (at least) 1460 – 1470/GCZ”) – fulfilling a larger-degree wave target.
Between now and then, that level could be corroborated with other indicators like daily & weekly HLS targets. For example, if Gold sets an intra-week low this week around 1496/GCZ, the weekly HLS (that maintains influence for two weeks) would be near 1467.0/GCZ. Silver has related targets near 16.80/SIZ.
The XAU also turned back down on Sept. 25, in line with multiple indicators. It reached its upside target and turned its daily 21 MAC down on Sept. 24, setting an intraday peak at 97.90/XAU when the daily 21 High MARC was at 98.06/XAU. Like Gold, that was one of the key indicators helping to time and pinpoint a peak and project a new 1 – 2 week decline.
The intermediate outlook is still for a drop to at least 86.00 – 86.80/XAU, and potentially back to 80.25 – 80.80/XAU. It is expected to spike to new lows at some point between now and Oct. 4 – perpetuating an 18 – 19 week low-low-low-(low) Cycle Progression. Daily (geometric) cycles pinpoint Oct. 1 or 2 as the ideal date for that next 1 – 2 week (or longer) low.”
Precious metals confirm projected late-Aug./early-Sept. peaks and reinforce cycles converging in March 2020! Intervening bounce into Sept. 24/25 fulfilled, projecting next leg down. Gold targeted for intermediate drop to 1467/GCZ… and then…
What Does September Sell-off Signal for Oct. – Dec. 2019?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.