Gold & Silver Poised for New Decline as Gold Prepares for Bottom. Why is 1270.0/GC a Pivotal Level in Gold?
Gold & Silver Poised for New Decline as Gold Prepares for Bottom. Why is 1270.0/GC a Pivotal Level in Gold?
04/17/19 Weekly Re-Lay Alert – Month of Aggression Culmination:
The Month of Aggression (March 20/21 – April 19/20) and Week of Aggression (April 12 – 19) are culminating as the Date of Aggression (April 19) nears. Among the potential culminating moves are a ~2-month correction in precious metals (from Feb. 20 into April 17/18?) and the latest phase of a 4 – 5 month advance in equity markets…
Gold & Silver dropped sharply after rallying into daily & weekly cycles peaking around April 10 with Gold attacking its weekly LHR, the high of the year-opening range, and the monthly Raw SPR (all at 1312.1 – 1315.3/GCM).
That perpetuated Gold’s ~7-week low-low-low-high-high-(high) Cycle Progression – that had already timed the early-Jan. & late-Feb. peaks with precision – and spurred the latest sell-off.
The April 10 peak arrived exactly 7 weeks/49 days from the Feb. 20 peak – reinforcing that ~7-week cycle and projecting focus to its next phase on May 28 – 31… would also fulfill a corresponding 13 – 14 week low-low-high-(high) Cycle Progression…
On a broader scale, Silver spiked to new lows and reinforced its ~5-month/20 – 22 week high-high-high-high-low-(low) Cycle Progression while precisely fulfilling a corresponding 22-week high-low-(low) Cycle Progression on April 15 – 18.”
Gold, Silver & XAU confirm April 10 cycle peak and subsequent (projected) new decline. Quick drop should last into (at least) April 17 – 18 before Gold prepares for a new 2 – 3 month advance. Late-May is potentially bullish period for Gold as part of overall projected advance into June/July 2019. First, Gold should spike below 1270.0/GCM, and trigger new long positions, before a bottom is more likely.
What does Month of Aggression reveal about Gold’s 2019 outlook?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.