Gold Reinforcing Strength…
Gold Reinforcing Strength…
Should Retest 1377.0/GC By ????.
Silver Could Reach 17.695/SIU.
08/16/17 Weekly Re-Lay Alert – Gold & the 4-Month Cycle – II:
“Gold & Silver remain strong after fulfilling analysis for a secondary low on Aug. 7–11th. They gave a quick spike down – testing & holding their respective daily HLS levels and weekly support to begin the week. They remained in daily uptrends, strengthening the case for an imminent rally to new intra-year highs in Gold (above 1307.0/GCZ).
Gold remains the most bullish, continuing in an intra-year uptrend and in an uptrend basis its weekly 21 MAC. Its monthly trend also remains positive after turning back up in Jan. 2017. That trend pattern continues to project a rally back to the mid-2016 peak (~1377/GC), although it does not specify timing…
From a price perspective, Gold could still spike up to 1311.2–1319.1/GCZ – the convergence of 3 recent weekly LHRs and new weekly resistance – before a peak becomes more likely. Silver has initial resistance at 1747–1769.5/SIU.”
Gold & Silver remain strong with Gold projecting new 8+-month highs in near future. Gold could reach ~1319.0/GCZ while Silver could spike above 17.60/SIU as part of current advance. Gold fulfilled projections for a higher low in mid-2017 and is expected to set another higher low in Sept. – as part of a developing new surge in 3Q/4Q 2017 – See ‘A New Golden Age’ for 2017 outlook.
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.