Gold Poised for March 1/2 Low
Gold Poised for March 1/2 Low;
1300 – 1305/GCJ = Pivotal Support…
XAU & Silver in Weaker Positions.
02/28/18 INSIIDE Track:
“Gold & Silver fulfilled their upside objectives in late-Jan. with Silver turning its weekly 21 MAC down on Jan. 22 – 26 and triggering a 1 – 2 month sell signal (the opposite of the 1 – 2 month buy signal triggered in early-Dec.).
That projected a convincing sell-off in Feb. that could stretch into early-March (daily cycles in Gold could trigger a low as soon as March 1 – 2 while related cycles in XAU bottom on March 7 – 9). The intra-year trend turned down in Silver but remains neutral in Gold. The weekly trends are also divergent.
This action reinforces the overall outlook for Gold in which it steadily forms a 2 – 3 year bull market (from late-2015 into late-2018) – with the largest moves expected in the latter phases. As noted last month, Gold could wait until Nov. 2018 before setting its peak for the year. In fact, there are enough cycles converging in mid-Nov. – mid-Dec. 2018 that a peak could come in either month.
That was expected to be corroborated by a 1 – 2 month peak in late-Jan. – perpetuating an 18 – 20 week low-high-high-(high) Cycle Progression as well as a 27 – 29 week high-low-low-low-low-(high) Cycle Progression AND a 55 – 59 week low-low-low-(high) Cycle Progression connecting lows in early-Nov. ’14, late-Nov./early-Dec. ’15, late-Dec. ’16 & projecting a high in mid-to-late-Jan. ’18.
Gold fulfilled that and could spike down to 1300 – 1305/GCJ in early-March – it’s a-b-c wave corrective target. In the case of the 18 – 20 week cycle, that could produce subsequent highs in June & late-Nov. ‘18.
6 – 12 month & 1 – 2 year traders & investors should be holding partial long positions in Silver from early-Jan. ’16. Use a weekly close below [reserved for subscribers].
In Dec., traders could have entered new long positions in Gold at 1275.0/GCG down to 1247.0/GCG (avg. entry ~1261.0/GCG) and should have rolled into the April contract. Risk/exit on [reserved for subscribers]. TRADING INVOLVES SUBSTANTIAL RISK!
The XAU has plummeted since precisely fulfilling its 1 – 2 month upside objective for a surge into late-Jan. and up to 92.87 – 93.06 (it peaked at 92.94/XAU). On the heels of a late-Jan. sell signal, that was/is expected to usher in a sharp drop into early-March 2018.
A low in early-March would perpetuate a 90-degree/3-month high (Jun. 7 – 9) – high (Sept. 7 – 9) – low (Dec. 7 – 9) – low (Mar. 7 – 9) Cycle Progression. That Progression was preceded by a low on March 7 – 9, 2017 – creating a corroborating 360-degree/12-month low – low cycle also projecting a low on March 7 – 9, 2018.”
Gold remains significantly stronger than Gold stocks and continues to trace out a multi-year bottoming phase that is projected to trigger accelerated advances during key cycle periods in 2018!
If Gold can spike to 1300 – 1305/GCJ in the opening days of March, it would fulfill ‘a-b-c’ downside objectives – in price AND time – and set the stage for a larger advance to follow. Gold continues to reinforce the outlook for a more bullish year in 2018 – a topic that has been discussed since 2015.
The March 2018 INSIIDE Track includes several corresponding charts & diagrams that illustrate the outlook for 2018.
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.