Gold Enters ‘The Golden Year’!
01/06/16 Weekly Re-Lay Alert: ““Enter ‘The Golden Year’”
Following a double test of its 2015 primary downside target (1033–1045.0/GC) and its secondary 3–5 year downside objective, Gold has begun ‘The Golden Year’ with an initial $30.00+/oz surge. In doing so, it has turned its daily trend up – the first confirmation that a multi-month bottom is intact.
Is this the proverbial ‘first step in a thousand mile journey’?
Or just another multi-week rally that eventually sputters out?
The action between now and January 22nd should give some of the first clues and could have a profound impact on what to expect in 2016…
Gold & Silver continue to validate the potential for a new advance to begin 2016 – The Golden Year. Gold twice tested its primary downside target for the year of 2015 – at1033–1045.0/GC – and was expected to rally from its Dec. 18th low into late-Jan.
That is when a combination of geometric cycles converge. The intermediate high set in October completed a ~90-degree advance from late-July & projects a subsequent high for late-Jan. 2016 – 90 & 180 degrees later (low-high-high Cycle Progression).
That expectation is why it was stated last week that “Gold & Silver need to begin 2016 with a sizeable bounce – giving initial validation to analysis for The Golden Year (the first year in 3+ years in which these metals are able to provide a sustained, 3+-month advance).”
Gold is doing just that and is capable of surging to 1125.0/GCG – the monthly LHR – in the first half of January… potentially this week. That is due to the fact that1125.7/GCG is the weekly 21 High MARC – a key level of intermediate resistance.
If Gold can exceed that level this week, it would turn its weekly 21 MAC up.
If Gold makes it up to that level in the coming days, it would not be surprising to see a secondary low set on January 15th or 18th (after a brief pullback), perpetuating a more-recent ~30-degree cycle.
That would also perpetuate the related ~15-day cycle that helped pinpoint the Dec. 31st low. As stated on Dec. 30th:
If Gold is forming a bottom and poised to rally into late-January (the preferred scenario), it should set a higher low at that time… and then quickly surge to new 3–5 week highs in the ensuing days.”
Gold has also done that, rallying to new 6-week highs in the opening days of January. Silver is entering a 5 (trading) day period when its daily 21 MARC will drop sharply, likely resulting in the corresponding daily 21 MAC turning up and spurring new gains.
As also stated last week, the best validation to 2016 analysis would be for the weekly trends to turn up during this initial advance. The earliest that is even possible would beJanuary 22nd… which closely coincides with the aforementioned 90 & 180-degree cycles.
3–6 month & 6–12 month traders & investors should have entered long positions in Gold & Silver near the lows and should hold them until a weekly close below the lows.” TRADING INVOLVES SUBSTANTIAL RISK.
Gold validating projections for Major bottom – after twice testing & holding its 3–5 year downside target at 1033–1045/GC. Initial surge into late-January expected. 1Q 2016 = First bullish phase.