Gold/Silver in Precarious 2 – 3 Week Period Before Cycles Turn Bullish in Late-June!
06/13/20 Weekly Re-Lay: “Gold & Silver are slowly confirming topping phases with Gold remaining below its mid-April top, a peak that provided dual fulfillment to major cycles peaking in Mar./Apr. ’20 – the latest phase of Gold’s uncanny 12.5 – 13.5 month/55 – 59 week cycle.
That cycle timed peaks in Sept. ’11 & Oct. ’12 and then a series of lows in Nov. ’13, Nov. ’14, Dec. ’15 & Dec. ’16 – at which point Gold entered the more bullish phase of its projected multi-year uptrend. It surged for ~13 months into late-Jan. 18 and then set a subsequent peak in late-Feb. ’19 – all projecting a subsequent peak for Mar./Apr. ’20.
Gold’s unique dual fulfillment of that cycle, with spike highs in March & April ’20, reinforces the focus on April/May 2021 for a more significant peak (aligning with major cycles in many other markets).
On an intermediate basis, Gold set a secondary (lower) peak in mid-May, perpetuating a 5-week low-high-high-(high) Cycle Progression that was expected to spur a multi-week decline.
Silver is steadily retracing after peaking on June 1, 90 days/degrees from Silver’s late-Feb. low, 180 days/degrees from its early-Dec. ’19 low and 270 days/degrees from its early-Sept. ’19 peak.
A secondary high was most likely on June 10, the latest phase of a 7 trading-day low-high-high-high-high Cycle Progression – that was/is likely to spur a sharp drop into the coming week. That took hold and Silver now needs a daily close below 17.375/SIN to confirm.
From an indicator basis, the focus is on June 15 – 19 when Silver’s inversely-correlated daily 21 MARC will surge…For the next three days, the inversely-correlated daily 21 MARC will surge as the corresponding daily 21 MAC is flattening and poised to turn down – reinforcing an impending danger period for Silver.
If Silver sees a quick, sharp plunge to begin the week, a 7 trading day high-low-low-low-(low) Cycle Progression could produce a short-term low on June 16… Otherwise, this decline could stretch into June 19/22.
The XAU rebounded into June 10 – the latest phase of a similar 7 trading-day low-high-high-high-high Cycle Progression that was/is expected to spur a sharp drop into the coming week.
It tested and held its now-declining daily 21 High MAC (122.70; intraday high was 123.00) at the same time it was testing and holding its daily 21 High MARC – a bearish combination. That was reinforced by the fact it was spiking up to its daily LHR, weekly resistance and the intra-month high – all setting the stage for a reversal lower.
The XAU quickly fulfilled that and reinforced the outlook for a sharp drop into June 15 – 19 and down to [reserved for subscribers]”
Gold & Silver in midst of corrective period, spanning cycle highs in late-May/early-June and more significant cycle lows in late-June. Metals prepare for most bullish cycles to kick in by late-June and spur larger advances into late-2020 and likely into May 2021. Silver gains expected to exceed Gold gains during that period, as Silver & metals stocks forecast to track closer with (bullish) overall stock market.
Could Dollar Weakness & Inflationary Factors Support Gold & Silver?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.