Gold Poised for May 14 – 18 Spike Low; Silver Similar.
Gold Poised for May 14 – 18 Spike Low; Silver Similar.
04/30/18 INSIIDE Track:
“Gold & Silver had a prime opportunity to elevate their uptrends to the next level, in April. With weekly trends and then weekly 21 MARCs providing the impetus for an intermediate rally, Gold surged to its 1 – 2 year resistance (1370 – 1377/GC) and held. Silver soon followed, surging on the heels of a weekly 21 MAC/MARC pattern and rallying into April 19.
In doing so, Silver spiked up to 1742.5/SIN – coming within 1.0/SIN of turning the weekly 21 MAC up (the weekly 21 MARC was 1743.0/SIN) and within a few cents of its year-opening high before dropping back to its weekly 21 Low MARC & MAC on April 27. It would not turn its intermediate structure positive until a weekly close back above that channel (currently around 1710/SIN).
Gold needs to give a weekly close above 1377.0/GCM to signal a breakout higher, although a weekly close above 1354.7/GCM would turn its intra-year trend up and increase the likelihood for an accelerated advance.
Until that occurs, Gold & Silver maintain the potential for an intervening spike low in the context of the overall outlook for an evolving advance into Nov./Dec. 2018.
Gold powerfully corroborated that intra-year outlook with its late-Jan. peak – perpetuating an 18 – 20 week low-high-high-(high), 27 – 29 week high-low-low-low-low-(high) AND a 55 – 59 week low-low-low-(high) Cycle Progression.
The 18 – 20 week cycle could produce subsequent highs in June & late-Nov. ‘18. while the 27 – 29 week cycle could produce an intervening peak in early-Aug. ‘18. Before any of those, Gold has developing ~11-week & ~22-week low – low Cycle Progressions that could produce an intermediate low in the middle half of May 2018…[refer to latest publication for updated analysis and specific trading strategy].”
Gold & Silver rallied to resistance and held in April (fulfilling analysis for a surge into the Date of Aggression on April 19) – setting the stage for a new sell-off in May. Focus remains on May 14 – 18 – a convergence of weekly cycles in Gold, when an intermediate low is most likely (+ or – 1 week). Specific indicators will be monitored to see if this is more likely to be a 1 – 2 month low… or a 1 – 2 year low. They should also help determine price targets for June and ultimately Nov. 2018. See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.