Gold Projects Rally into June 11 – 15 (Lower) High; Silver Stronger.
Gold Projects Rally into June 11 – 15 (Lower) High; Silver Stronger.
05/19/18 Weekly Re-Lay:
“Gold & Silver sold off in line with daily cycles (peak on May 11) and the daily & weekly 21 MARCs. Gold turned its weekly trend down in the process (Silver & the XAU did not follow suit) – even as it dropped into the latest phase of an 11-week & 22-week low-low-low Cycle Progression.
That does not alter the cyclic potential for Gold to set its next intermediate high on June 11 – 15…the latest phase of a 20-week high-high-high-(high) Cycle Progression. The weekly trend reversal just shows that it should set a lower high at that time.
And Silver could still accomplish what was described as a possibility for Gold – rallying for six weeks from its early-May low and matching the duration of its Dec./Jan. rally (also six weeks) while advancing into June 11 – 15…
Since the Jan. ’18 peak, Gold has been expected to set subsequent peaks in mid-June and then Nov. 2018, with the Nov. 2018 peak expected to be higher than the Jan. ’18 peak. That remains the case. Now the outlook for June is clarified…
1 – 3 month traders could have entered long positions in [reserved for subscribers]
The XAU sold off after fulfilling projections for a rally back to 84.57 – 84.75 – where it had dual weekly LHR levels (weekly extreme upside targets) converging with intra-year downtrend resistance. That spurred a drop back to near-term support.
It dropped to its weekly 21 Low MAC (81.23) while remaining above its weekly 21 Low MARC (80.77) – a range of pivotal support this past week. In doing so, it neutralized its daily uptrend multiple times but would not turn that trend down until a daily close below 81.09/XAU.
Corroborating that, the XAU dropped to – and held – daily HLS levels on two successive days. That increases the potential for an impending, 1 – 2 week low.
With the weekly trend and daily trend in the same set-up (up/neutral but failing to turn down), and the weekly 21 Low MAC tested in two consecutive weeks, the XAU is in the ideal position to mount a new rally…
1 – 4 week traders can enter long positions in the XAU (or related vehicles) at current levels and average into these down to 81.09/XAU. Risk/exit [reserved for subscribers].” TRADING INVOLVES SUBSTANTIAL RISK
Gold, Silver & XAU are fulfilling potential for a rally into June 11 – 15, when the next multi-week peak & reversal lower is projected. Silver could match the duration of its Dec./Jan. rally with an advance into ~June 14 (the precise date of the 20-week cycle from the Jan. 25 peak). Upside price targets taking form. See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.