Gold Poised for Major Low & Rally into Feb. ‘19; 21 MARC Turns Bullish in August ‘18.
Gold Poised for Major Low & Rally into Feb. ‘19; 21 MARC Turns Bullish in August ‘18.
07/29/18 INSIIDE Track: “Gold & Silver remain in what is perceived to be a multi-year ‘A-B-C’ corrective rally that was/is expected to ultimately produce a test of ~1423/GC – the 4th wave of lesser degree resistance (on the way down – from 2011 into 2015). That test is likely to wait until (at least) 2019…
In between, a secondary high was forecast for June 11 – 15. While these cycles remain firmly intact, a couple key related expectations have changed – beginning when Gold turned its weekly trend down in May.
That weekly trend reversal clarified that Gold should set a lower high on June 11 – 15 and then drop to new lows, leading into July 2018…Gold fulfilled its weekly trend pattern and tested yearly support at 1191.7 – 1214.3/GC. It also approached monthly trend support near 1205/GC. Gold just tested its monthly 21 Low MAC, a channel that will have a higher probability of turning up in August (due to a falling monthly 21 MARC).
Gold has completed a 180-degree move in price and time (180 degrees – from high to low and 180 degrees/days or roughly 6 months) from the late-Jan. 2018 peak….
The XAU has declined since fulfilling intermediate analysis for a rally into weekly cycles that projected a peak on June 11 – 15. It has since resumed its decline and could ultimately fulfill long-term cycles with a 6 – 12 month bottom in July – Nov. 2018. Those cycles include a 30 – 34 month low (5/05) – high (3/08) – high (12/10) – low (6/13) – low (1/16) Cycle Sequence.”
Gold, Silver & Gold/Silver Index (XAU) have declined since intermediate cycles peaked on June 11 – 15. A sequence of lows is expected in Aug. – Nov. 2018 and should usher in a new bullish period in precious metals – leading into late-Feb./early-Mar. ’19 (the next phase of Gold’s 55 – 59 week cycle) and ultimately into June/July ’19. See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.