Gold Corroborates August ‘Danger Zone’; Projects New Surge into Uncanny 27 – 29 Week Cycle; 1525/GC = Pivotal Target.
08/07/19 Weekly Re-Lay Alert – August Danger Zone Intensifies: In late-June, Gold & Silver peaked in line with daily and weekly cycles on June 24 – 28. That was projected to spur a correction to critical support at 1365 – 1380.0 (see June 28, 2019 INSIIDE Track: Gold & Silver 2019 – Cycle Sequence).
The conclusion of that report was that:
“So, Gold & Silver could reverse lower in early-July, trigger a 1 – 3 week pullback, and then be in a position to rally to new highs.”
The ensuing July ’19 INSIIDE Track added some timing for this analysis, stating that Gold…
“…could see a low on July 8 – 15 – creating a ~10-week high-low-(low) Cycle Progression.”
It dropped to 1384.7/GCQ and set a double-bottom low on July 9, before resuming its uptrend. Gold then rallied to new highs and was expected to correct towards its early-July low – 4th wave of lesser degree support – at 1396.4/GCZ.
It corrected for two weeks but could only make it down to 1412.1/GCZ – retracing almost the same as it did weeks earlier (~55.0/GCZ each time).
At the same time, Silver was giving a little different perspective – focusing on ~15.800/SIU as a decisive level of support:
7-27-19 – “Silver remains strong and still maintains the potential (similar to the XAU) to extend its advance into early-August, before a potential sell-off into late-Aug. ’19 – the next phase of Silver’s ~9.5 month cycle…
If the next correction bottoms at/above 15.600/SIU (ideally at/above 15.800/SIU), Silver would be in the ideal position to see another accelerated advance.”
Silver pulled back and bottomed at 15.935/SIU, holding above that 15.800/SIU level while testing and remaining above its ascending daily 21 High MAC. It neutralized its daily uptrend multiple times (but did not turn it down), rallying from that daily 21 High MAC and re-entering its daily uptrend on Aug. 5.
Today’s action spurred breakouts higher, in both metals, turning the intra-month trends up as well… Gold is nearing its second 1 – 2 year upside target (~1525.0/GC) as Silver attacked its weekly LHR.
The XAU has extended its advance into Aug. ’19… It could spike above 100.0/XAU in the short-term, fulfilling its range-trading objective (~60.60 – ~80.60 – ~100.60).”
Precious metals signal new surge in Aug. ’19 as stocks are confirming ‘August 2019 Plunge Cycles’. Gold’s May 31 monthly buy signal reinforces focus on next phase of 27 – 29 Week Cycle (Aug. 26 – 30 = greatest synergy of weekly cycles). Silver, Platinum & XAU concur, with rallies projected to last into/through Aug. ’19. XAU monthly trend signal is critical, with focus on Aug. 30 for a signal (that could time a multi-month peak while reinforcing the outlook for future strength after an intervening sell-off).
1525 – 1530.0/GC, 18.50/SI & 100.60/XAU = next upside objectives in continuing bull market!
What Then?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.