Gold & Silver on Track for More Upside

09/26/15 Weekly Re-Lay: “Gold & Silver are locked in a ~2-month congestion range after setting new multi-year lows in late-July and then rallying to their January (& year-opening) lows – support turned into resistance – where initial highs were expected.

They subsequently pulled back & confirmed their projected lows (Sept. 10/11^th), after which they were expected to rally into Sept. 24^th and perpetuate a ~30-degree low (July 24^th)–high (Aug. 24^th)–high (Sept. 24^th) Cycle Progression.  That cycle next comes into play on ~Oct. 24^th – the same time that several other cycles converge. 

The current advance is expected to extend into late-Oct. and Gold has given another positive signal to corroborate that outlook.  It closed the week inside its weekly 21 MAC – an early step in a developing reversal pattern (of that channel).

It did this right after turning its daily 21 MAC back up, a signal that increases the potential for additional upside in the coming weeks.

Gold & Silver continue to mimic the action of Nov. & Dec. 2014, when both set intermediate lows – in perfect synchronicity with intermediate (Nov. ’14) cycles – and then rebounded. 

During the ensuing pullback, Silver spiked to a new low (without ever giving a weekly close below its previous low) as Gold bottomed at higher levels – after a .786 retracement… just as these two metals have done in 3Q ’15.

That is VERY similar to what took place between July 24^th–Aug. 26^th, when Silver spiked to new lows without ever giving a weekly close below its July 24^th low… and Gold bottomed at higher levels.  And both have rallied since then.

In Dec. 2014, both metals then surged into Jan. 22^nd.  Could they now rally into late-Oct. and provide a close copy of that previous sequence?”

Gold & Silver are mimicking what was seen in Nov. ’14–Jan. ’15 and are expected to perpetuate this parallel by extending the current rally into Oct. 12–16^th or Oct. 19–23^rd. After it peaked in January, Gold entered a sharp, 7–8 week decline and set another low 4.5 months (19 weeks) after its Nov. ’14 low.  If Gold suffers another 7–8 week decline – after a late-Oct. peak – it could produce another low… just in time to begin its projected 2016 surge.

The action of early-Oct. needs to confirm this scenario and project further upside… before a final decline.  More & more, 2016 is shaping up to be the projected ‘Golden Year’. Gold’s 4-Shadow signal is corroborating that.