Gold & Silver Nearly Fulfill Upside
Gold & Silver Nearly Fulfill Upside;
Poised for Oct. 16 Reversal Lower…
Ensuing Pullback is the Key!
10/14/17 Weekly Re-Lay:
“Gold & Silver have rallied sharply since dropping into daily & weekly cycles and bottoming on Oct. 5 – 6 – perpetuating a 12-week high-low-(low) Cycle Progression & a 50% correction in time (8 weeks up/4 weeks down).
If that low continues to hold, it would project an overall [reserved for subscribers].
Just as important, Gold twice neutralized its weekly uptrend as it set the early-Oct. low – the ideal scenario for an intermediate bottom. It has turned that weekly trend back up – corroborating expectations for an intermediate bottom.
Similarly, Silver spiked lower & reversed higher after twice neutralizing its weekly uptrend and dropping right to its overall downside target at 16.265–16.390/SIZ.
It has since re-entered its weekly uptrend while turning its daily & intra-month trends up. It is nearing monthly resistance, where an initial high could take hold – in line with timing expectations for a rally into Oct. 13 – 16.
The XAU is increasing in volatility, turning its daily trend up and then seeing a routine 1 – 3 day pullback (while spiking down to and holding its daily HLS) before attempting to rally again.
However, as is so often the case, the XAU is lagging Gold & Silver – leaving it in no-man’s-land on a near-term basis. The daily 21 MAC is poised to [reserved for subscribers].
Platinum rebounded & turned its daily trend up after bottoming in line with a ~90-degree low-low-low Cycle Progression. A test of 960.0/PLF is likely during this rebound.
Palladium reversed back up after neutralizing its weekly uptrend multiple times (but failing to turn it down). It is attacking monthly resistance and the previous high, so a second peak could take hold.
Copper has continued to rally after dropping to its 4th wave of lesser degree support while neutralizing its weekly uptrend multiple times. It has re-entered that uptrend – projecting a retest of the highs as Copper fulfills timing indicators projecting a rally into at least Oct. 13/16.”
Gold & Silver fulfill analysis for quick surge into Oct. 13 – 16. Spike high & reversal lower likely on Oct. 16. Gold stocks exhibiting relative weakness. Action of Oct. 16 – 20 is CRUCIAL with respect to outlook for 4Q ’17–1Q ’18!
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.