Gold, Silver & XAU Reinforce Jan. ‘18 Cycle High; Focus on Nov. ‘18.
Gold, Silver & XAU Reinforce Jan. ‘18 Cycle High; Focus on Nov. ‘18.
03/30/18 INSIIDE Track:
“03/30/18 – Gold & Silver fulfilled their upside objectives in late-Jan. with Silver turning its weekly 21 MAC down on Jan. 22 – 26 and triggering a 1 – 2 month sell signal. That projected a convincing sell-off in Feb. that was expected to stretch into early-March (daily cycles in Gold projected the earliest low – for March 1 – 2).
Gold bottomed on March 1 and has consolidated since then. It remains neutral on a weekly trend and intra-year trend basis. Silver is a little weaker, turning its intra-year trend down on Feb. 2 and remaining there ever since.
While this leaves open the potential for a spike low in the near term, the overall outlook – in Gold – is for an evolving advance into Nov./Dec. 2018. That was corroborated by a multi-month peak in late-Jan. – perpetuating an 18 – 20 week low-high-high-(high), 27 – 29 week high-low-low-low-low-(high) AND a 55 – 59 week low-low-low-(high) Cycle Progression – converging in late-Jan. ’18.
The 18 – 20 week cycle could produce subsequent highs in June & late-Nov. ‘18…
In Dec., traders could have entered new long positions in Gold at an avg. of ~1261.0/GC. Roll into the June contract and [reserved for subscribers only]. TRADING INVOLVES SUBSTANTIAL RISK!…
Platinum turned its weekly trend down, altering the near-term outlook and removing any remaining intermediate support. It is also turning its intra-year trend down, an additional negative factor. This could trigger an overall decline into early-May.
Palladium turned its intra-year trend down in early-Feb. – signaling the completion of a 2-year advance from its mid-Jan. 2016 bottom. That fulfilled cycles projecting a multi-quarter high in 1Q 2018 and was validated with the weekly trend also turning down.
The intermediate outlook is still for an initial drop to ~910.0/PA – the level of its previous high. A 9-week low-low-low-(low) Cycle Progression and a 6-week high-high-(low) Cycle Progression converge on April 9 – 13 and could time a low.
Copper remains in an intra-year downtrend and turned its weekly trend down, shortly after turning its weekly 21 MAC down. That is the most convincing sign yet that a major ‘5’ wave peak is intact and a multi-quarter correction is underway.
Copper dropped right to its 6 – 12 month ’4th wave of lesser degree’ support (~2.9300/HGK) and would need to give a weekly close below that to elevate this decline to the next higher magnitude.”
Precious Metals (including Gold, Silver, the XAU, Platinum & Palladium and even Copper) all fulfilled projected surges into mid-to-late-Jan. ’18 – when weekly, monthly & quarterly cycles projected a multi-month or multi-quarter peak. At that time, metals also fulfilled upside price targets with uncanny accuracy. The XAU surged precisely to – and peaked at – its multi-month upside price target at 92.87 – 93.06 while Gold acted similarly in reaching and holding its multi-month upside target (~1365/GCG).
This fulfillment of decisive multi-month upside price AND time targets set the stage for a new decline to take hold in Feb. 2018 – when, along with Copper, weekly & monthly cycles turn back down (Palladium had yearly cycles turning down in Feb. 2018 and quickly validated them).
Those early-2018 peaks reinforced future cycle highs in Nov./Dec. 2018. In the interim, metals are providing diverse times for potential, intermediate lows with Palladium poised to bottom on April 9 – 13 as Platinum remains negative into (at least) early-May. Gold maintains a noteworthy convergence of weekly cycles on May 14 – 18 (+ or – 1 week) that could also impact what to expect in June – Nov/Dec 2018.
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies (and for multiple charts & diagrams illustrating the 2018 outlook for Gold).