Gold Confirming Peak & Sell Signal
05/11/16 Weekly Re-Lay Alert: ‘Is the Snowball Slowly Rolling’
“Gold & Silver reversed lower – immediately after attacking 3–6 month upside objectives (~1305–1315.0/GC & 18.040–18.140/SI) – ushering in what could be a lengthy period of volatile congestion…
With Dollar cycles turning back up in early-May – and the potential for global equities to accelerate lower into late-June – at least two potential negative (deflationary) factors could amplify this volatility into mid-2016. Silver turned its daily trend down while Gold twice neutralized its daily uptrend – triggering a 1–3 day reactive bounce.
Both tested & held their daily LHRs today – reinforcing that a secondary high could take hold in the coming days… [See May 11, 2016 Weekly Re-Lay Alert for details]:
Traders could have [Refer to May 11, 2016 Weekly Re-Lay Alert for specific trading strategy related to May 6th sell signal & expectations for sharp drop to ~1190.0/GCM in the month of May… after Gold & Silver attacked their 3–6 month upside targets at1305–1315/GC & 18.00–18.50/SI.]
3–6 month & 6–12 month traders and investors should be holding partial (about 50%) long positions in Gold & Silver from mid-Dec. (~1046–1076/GC & 13.62–13.88/SIH). Hold these until [Refer to May 11, 2016 Weekly Re-Lay Alert for expounded trading strategy revolving around developing top at ~1305/GC & ~18.04/SI… and projections for multiple drops in the coming weeks.]