Gold Reinforcing April 5 or 6 Cycle Low
Gold Reinforcing April 5 or 6 Cycle Low.
04/05/18 INSIIDE Track Intra-month Update:
“Gold & Silver have remained above their early-March lows but continue to vacillate in a narrowing trading range. They began the week by spiking up to the convergence of weekly & monthly resistance levels and reversed lower, reinforcing 1 – 2 week weakness. They have since sold off but are expected to set another multi-week low on April 5 – 9.
1 – 3 month IT Update traders could have entered long positions in Gold (metal, futures or related vehicles) at ~1328 down to 1312.4/GCM and should [reserved for subscribers]. TRADING INVOLVES SUBSTANTIAL RISK!
The XAU has consolidated since peaking on March 26 – 28, the latest phase of a 21 – 24 day/14 – 16 trading day Cycle Progression. The next phase – on April 16 – 18 – could produce another high.
The next 1 – 2 days are critical since the XAU has not turned its daily or intra-month trend down. If it shows any additional strength, the XAU would negate the potential for some additional downside (into April 9 – 11) before a new rally takes hold. A daily close above 82.69/XAU would confirm the onset of a new 1 – 2 week rally.”
Gold & Silver are validating the potential for a low around April 5 and the onset of new multi-week advances that could/should stretch into May 2018. That coincides with analysis for the Month of Aggression (March 20/21 – April 19/20), the Week of Aggression (April 12 – 19) and the Date of Aggression (April 19) – and the unique correlation to precious metals. See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.