Gold & Silver Rally into April 10; ~7-Week Cycle Portends Imminent Peak. New Decline Should Last into Daily Cycle Lows on April 17 – 18.
Gold & Silver Rally into April 10; ~7-Week Cycle Portends Imminent Peak. New Decline Should Last into Daily Cycle Lows on April 17 – 18.
04/10/19 Weekly Re-Lay Alert:
The latest ‘anti-Dollar’ surge has come from Bitcoin and cryptocurrency, fulfilling a myriad of bottoming cycles, objectives and indicators in mid-Dec. (see 12/14/18 The Bridge – Currency Wars & Cryptos) – while signaling that at least a 3 – 6 month bottom was intact. That analysis was corroborated by the action of mid-Dec – early-Feb. and then validated with decisive buy signals in early-Feb.
Bitcoin continued its bottoming phase and then triggered a reinforcing round of buy signals in mid-March that projected a surge to ~6,000 (see 03/18/19 The Bridge – Currency Wars & Cryptos II). All those signals remain intact and could spur a spike up to 5,800 – 6,200 in the near term. Based on the declining weekly 21 MARC – over the next several weeks – Bitcoin will have another bullish indicator (21 MAC) supporting it…
As reiterated last week, a multitude of ‘anti-Dollar’ instruments have been bottoming and steadily gaining ground, leaving the Dollar in a similar situation as that of Stock Indexes in late-Sept./early-Oct. ’18 (before they plunged into late-2018 – the latest phase of a 3.25-year low-low-low cycle that projected a 6 – 12 month bottom). This has been evolving for over six months…
In Aug., it was Gold bottoming and reversing higher. It has continued to gain, on balance, since then.
In Oct., it was the Japanese Yen & Chinese Yuan bottoming and reversing higher.
In Nov., it was Silver bottoming and reversing higher.
In Dec., it was Bitcoin bottoming and reversing higher.
In Dec., it was also the Canadian Dollar bottoming and reversing higher.
In early-Jan., it was the British Pound & Australian Dollar bottoming and reversing higher.
Even the Russian Ruble has gained, against the Dollar, since early-Sept.
Two key components are poised to potentially provide the ‘straws that break this camel’s back’ – with expected rallies in April. One is the Euro, rallying from a retest of its Nov./Dec. ’18 low. The other is the British Pound, completing an 8 – 9 week low-low cycle and poised to set a secondary low in the middle half of April.
How long can the Dollar Index hold up and mask this growing revolt in anti-Dollar instruments? Cycles & technical say ‘not much longer’…
Gold & Silver have rallied after spiking to new correction lows… they could set a 1 – 3 week peak by/on April 12 – in line with Gold’s consistent ~7-week low-low-low-high-high-(high) Cycle Progression that timed the early-Jan. & late-Feb. peaks with precision.
A peak on April 10 – 12 would perpetuate that ~7-week cycle and project focus to its next phase on May 28 – 31. A subsequent peak on/around May 28 – 31 would perpetuate a corresponding 13 – 14 week low-low-high-(high) Cycle Progression… as well as this prevailing, ~7-Week Cycle Progression.
The XAU turned its daily trend up (and remains in an intra-month uptrend) as it surged to weekly resistance and the weekly LHR – at 78.16 – 78.30/XAU…. Until a weekly close above 80.76, however, the current consolidation should continue.”
Gold, Silver & XAU fulfill analysis for a quick surge into ~April 10. Weekly cycles project a new 1 – 2 week drop that should last into (at least) April 17 – 18. Watch Dollar action in final weeks of April!
What Could Trigger New Sell-off in Gold, Silver & Gold stocks?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.