Gold Poised for Jan. Rally
12/29/15 Weekly Re-Lay Alert: “Gold & Silver are steadily validating the potential for a bottom near current levels. The first corroboration to that scenario appeared with Silver reversing its daily trend up as it turned its daily 21 MAC higher.
Gold is turning its daily 21 MAC up but needs a daily close above 1088.3/GCG to turn its daily trend up.
While Gold was creating the spike low in early-Dec., it began what is now a 14–15 day low-low-low Cycle Progression (Nov. 18—Dec. 3–Dec. 17) that comes back into play on Dec. 31st (+ or – 1 day), when another low is possible.
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…
The outlook remains for an intermediate rebound into late-Jan. 2016 – 90 & 180 degrees from the late-Oct. high & late-July low (low-high-high Cycle Progression).
3–6 month & 6–12 month traders & investors can begin averaging into long positions in Gold & Silver at these levels…
1–4 week traders could have bought Feb. Gold …” TRADING INVOLVES SUBSTANTIAL RISK.
Gold remains above 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.