Gold Confirming Bullish 21 MAC Signal; Attacking 1445.0 Target as XAU Prepares to Elevate Advance!
Gold Confirming Bullish 21 MAC Signal; Attacking 1445.0 Target as XAU Prepares to Elevate Advance!
06/26/19 Weekly Re-Lay Alert – 21 MACs, 21 MARCs & 90/10 Rule of Cycles: “After Gold fulfilled the forecast for a pullback into April ’19 and a drop to ~1270.0/GC (where traders were advised to re-enter multi-month long positions), it has traced out the second form of a bullish 21 MAC signal – during the second impulse wave (since Aug. ’18).
As illustrated above, Gold rallied back and closed above its weekly 21 High MAC on June 3 – 7 – while turning the direction of that channel up (it had flattened for several weeks prior). See arrows #1 & #2.
That culminated an initial surge in Gold and ushered in a brief pullback that was expected to precede a larger advance…
The June 10/11 daily trend signals in Gold (pulling back to weekly support and daily HLS while twice neutralizing its daily uptrend) projected a new surge in Gold and the onset of the next rally that should carry it higher…
At the same time, Gold pulled back precisely to its weekly 21 High MAC (arrow #3 on page 32 chart) – bottoming at 1323.6/GCQ (the weekly 21 High MAC for June 10 – 14 was 1323.7/GCQ) and rebounding into the weekly close. It was the textbook sequence of signals that has been described on many occasions:
— Rally and close above weekly 21 High MAC.
— Turn direction of weekly 21 High MAC up (at same time or during ensuing week).
— Pull back and retest the now-ascending 21 High MAC – a type of ‘test of strength’ challenge – and then enter an accelerated advance away from that support.
That two-week sequence coincided with similar action in the intra-year trend. Gold turned its intra-year trend back up on June 7, closing above the year-opening range, and then pulled back to retest that support before surging into mid-year…
That was in the midst of great synergy of corroborating cycles & technicals, including the precise pullback to major support in April (~1270.0/GC) & 50% retracement of the initial rally, the corresponding multi-month buy signal, and cycles projecting a new surge from April into June/July ’19. Along with the 90/10 Rule of Cycles, Gold entered a new accelerated advance and turned its weekly trend back up…
Gold has also attacked its primary, 1 – 2 year upside target (from the Aug. ’18 low) at 1410 – 1445.0/GC while Silver maintains the potential for a spike up to/ above 16.000/SIN in this time frame.
Gold & Silver just pulled back to daily trend support as Gold tested and held its daily HLS.”
Gold triggers powerful weekly 21 MAC (bullish) signal, reinforcing 6 – 12 month outlook for overall rally into July 2019 and primary upside objective surrounding 1445.0/GC. 3 – 6 month buy signal (in late-April/early-May… near 1270.0/GC) & May 31 2 Close Reversal bullish signal project increasing gains in June & July ‘19. Gold/Silver Index (XAU) elevates advance while reinforcing forecast for overall surge into July/August ‘19and ideally above 90.00. Silver poised for accelerated rally.
What Would July/August ’19 Peak Signal for Late-2019?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.