Gold & Silver at Decision Points
03/10/16 Weekly Re-Lay Alert: “Gold & Silver rallied on all of this chaos and now enter the most decisive day (of this 1–2 week period) on March 11th. If they spike to new highs – or at least retest their highs – tomorrow, it would perpetuate a 27–29 day low-low-high-(high) Cycle Progression in Gold and a similar 29–30 day low-low-high-(high)Cycle Progression in Silver.
From the bull’s perspective, the ideal scenario is still that Silver gives a weekly close above 16.005/SIK – to turn its weekly trend up and confirm a multi-month bottom (while greatly reducing any remaining potential for a retest of its low).
That would not contradict the daily cycles since a reversal of this magnitude (a lagging/confirming indicator) often triggers an ensuing 1–3 week correction before resuming the uptrend. That would also corroborate the potential for a secondary low in early-to-mid-April.
3–6 month & 6–12 month traders and investors should be holding partial long positions in Gold & Silver from mid-Dec. (~1046–1076/GC & 13.62–13.88/SI) and should[reserved for subscribers only]…” TRADING INVOLVES SUBSTANTIAL RISK. See Hypothetical Trading Disclaimers.