Gold Reaches Downside Target (1450); Silver Fulfills Major Cycle Low (March 12 – 16). New Surge Likely!
03/18/20 Weekly Re-Lay Alert: “Gold just plummeted to 1450.9/GCJ – fulfilling the primary downside price projection for this drop from early-March… Metals bottomed in perfect sync with daily cycles that forecast this initial sell-off to last into March 13/16 – the latest phase of a 10 – 11 trading day low (Jan. 14) – low (Jan. 29) – low (Feb. 12) – low (Feb. 28) Cycle Progression coinciding with other cycles.
That could spur a sharp rally in Gold, capable of surging to 1576 – 1584/GCJ in the near term.
Silver has powerfully confirmed its status as the weaker sister – projected to plunge to new lows even as Gold simply undergoes a 1 – 2 month correction. However, this remains a critical time for Silver when an important bottom could take hold.
Not only did a 10 – 11 trading day low (Jan. 14) – low (Jan. 29) – low (Feb. 12) – low (Feb. 28) Cycle Progression project a low for March 13/16, so did many other weekly cycles – all connected to Silver’s uncanny web of 7-week-related cycles.
March 16 – 20, 2020 is the culmination of a 70-week low (July 10 – 14, ’17) – low (Nov. 12 – 16, ’18) – low Cycle Progression.
March 16 – 20, 2020 is also the latest phase of a 14-week low (July 10 – 14, ’17) – high (Feb. 18 – 22, ’18) – low (Nov. 12 – 16, ’18) – high (Sept. 2 – 6, ’19) – low (Dec. 9 – 13, ’19) – low Cycle Sequence.
March 16 – 20, 2020 is also the midpoint of the 28-week low-low-low-(low) Cycle Progression that helped pinpoint the Dec. 9 – 13, 2019 low and ushered in the bullish period into late-Feb./early-March ’20.
March 16 – 20, 2020 is also the fulfillment of an overlapping 28-week high (Feb. ’19) – high (Sept. ’19) -low Cycle Progression.
March 16 – 20, 2020 is also the fulfillment of a 7-week high-high-low-(low) Cycle Progression that was discussed in mid-Dec. and late-Jan. – when the two preceding lows were forecast.
A low on March 16 – 20, 2020 would divide this 7-week web of cycles and the overall 70-week low-low-low cycle into a proportional 42 weeks up & 28 weeks down. Once again, this 7-week web of cycles comes back into play and could time a much more significant bottom in Silver.
And, on a much larger basis, a low in March 2020 would provide some important symmetry to the past decade in the overall metals complex…
Precious metals went through a topping phase in late-2010 – late-2011 with Gold providing the final peak in Sept. 2011. The complex then plunged into Dec. 2015 – setting a multi-year low. That 51-month decline sets the stage for a divergent bottom in Silver – the weakest of the metals – in March 2020 – 51 months later (51-month high-low-(low) Cycle Progression).
With Silver trading around 12.00/SI (setting its lowest daily close today, below 11.80/SIK), it is the lowest level since March 2009 and could be time for a major low. Similar to equity markets, this is a good time for longer-term traders and investors to begin buying Silver or related stocks… risking a weekly close below 11.00/SIK (use the futures as the trigger point for the risk on this metals’ position).
The XAU fulfilled the potential for a sharp drop into March 12 – 16 – the latest phase of a ~60-degree/ ~2-month low (Sept. 13/16) – low (Nov. 12) – low (Jan. 14) – (low) Cycle Progression.
It tested its monthly HLS (extreme downside target) and briefly spiked down to 6 – 12 month support at 66.00/XAU. That should prompt a rally to 93.50 – 94.50, in the short-term”
Gold, Silver & gold stocks (XAU Index) fulfill downside objectives with Gold plunging to 1450.0/GC target as Silver & XAU fulfill decisive multi-month cycle lows on March 12 – 16. Is it time for bull market to resume?
How High Could Gold, Silver & XAU Surge?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.