Gold Holding MAJOR Support
01/02/16 Weekly Re-Lay: “Gold & Silver hovering above their lows. Traders should be holding Gold…looking for confirmation of a bottom and rally in Jan…
Gold & Silver are steadily validating the potential for a bottom near current levels…with Gold maintaining its secondary 3–5 year downside target – and its primary downside target for the year of2015 (which was met) – at 1033–1045.0/GC.
That is where a Major bottom has been considered most likely. With Gold attacking the top of that range, it provided minimum fulfillment to that 3–5 year objective… From a cyclic basis, the next intermediate high is expected in late-January. 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)…
…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)…
3–6 month & 6–12 month traders & investors can be averaging into long positions in Gold & Silver at these levels…
Gold & Silver just set secondary lows in synch with a 14–15 day low-low-low Cycle Progression (Nov. 18—Dec. 3–Dec. 17) that came back into play on Dec. 31st (+ or – 1 day)…1–4 week traders could have bought Feb. Gold…” TRADING INVOLVES SUBSTANTIAL RISK.
Gold continues to hold Major support and its 3–5 year downside target at 1033–1045/GC . It has triggered multiple buy signals and just fulfilled potential for secondary low on Dec. 31st. Sharp rally into late-January is expected. TRADING INVOLVES SUBSTANTIAL RISK.