Gold & Silver Bottom on Oct. 5 – 6
Gold & Silver Bottom on Oct. 5 – 6;
Rally into Oct. 13 – 16 Expected…
Reinforcing Outlook for late-2017!
10/07/17 Weekly Re-Lay:
“Gold & Silver fulfilled the potential for a drop into Oct. 5/6 and are poised to rebound. Traders could have [reserved for subscribers]…
Gold & Silver dropped sharply into daily cycles on Oct. 5 – 10 – the ideal time for a low – perpetuating a 12-week high-low-(low) Cycle Progression & a 50% correction in time (8 weeks up/4 weeks down).
If this low holds in Gold, it would project [reserved for subscribers].
Both Gold & Silver spiked lower & reversed higher on Oct. 6, without ever turning their intra-month trends down. That corroborates the potential for an intermediate low at this time.
In addition, Gold neutralized its weekly trend for the second time – pinpointing the coming week for a reversal higher – as Silver spiked lower & reversed higher after twice neutralizing its weekly uptrend. The reversal higher should spur a multi-week rally.
The XAU is beginning to rally after fulfilling its potential for a sharp drop from Sept. 8/11 into Sept. 21/22 followed by consolidation and then a final spike low.
It twice neutralized its weekly uptrend prior to this past week, setting the stage for a spike low & reversal higher. That took place with the XAU ultimately triggering a weekly 2 Close Reversal higher while re-entering its weekly uptrend and closing back above its weekly 21 High MAC.
All of those factors should spur [reserved for subscribers].
Platinum dropped sharply after peaking in early-Sept. – 90 degrees (3 months) from its early-June high. That projects a future high in early-Dec. Platinum dropped to within 1 day of precisely creating a ~90-degree low-low-low Cycle Progression – setting the stage for a new rally.
That does not yet, however, remove the overall weakness or the impact of the recent outside-month/2 Close Reversal lower. Platinum could still drop lower (after a bounce) even as it fulfills the potential for a multi-month low in Oct./Nov. ’17 – the latest phase of a 10 – 11 month low-low-low-(low) Cycle Progression (the same cycle that timed multiple highs in 2012 – 2014)…
Copper rallied after dropping to its 4th wave of lesser degree support while neutralizing its weekly uptrend multiple times. It would not re-enter that weekly uptrend, however, until a weekly close above 2.960/HGZ. It has turned its daily & intra-month trends up, increasing the potential that this rally should at least last into Oct. 13/16.”
Gold & Silver fulfill analysis for drop into Oct. 5 – 6. Rebound into Oct. 13 – 16 projected. Gold stocks (XAU) concurs. Platinum & Copper fulfilling related cycles with Copper set to surge to new highs. Cycles in Bitcoin/cryptocurrency (rally into mid-Oct.), Dollar & Euro corroborate!
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.