Gold & Silver Poised for Pullback

04/15/17 Weekly Re-Lay:

“Gold & Silver have now fulfilled almost all of the 2–4 week upside potential with Gold spiking above 1284.0/GCM while reaching monthly resistance (1284.2–1298.5/GCM).  At the same time, Silver has spiked to new intra-year highs, fulfilling its weekly trend pattern.

Silver reinforced that target with its recent 17.735/SIK low (set while twice neutralizing its daily uptrend, but NOT turning that trend down), creating a short-term, upside LLH objective at 18.635/SIK.  It could spike as high as its monthly resistance…

With these upside expectations now being fully met, and Silver again bumping up against 18.50/SIK, a pullback becomes more likely…

The XAU projected an extension to this rebound, following Monday’s spike low and daily 2 Close Reversal buy signal.  That allowed the XAU to fulfill all of the (multiple) upside targets & to attack April’s monthly resistance (87.93–89.27/XAU).

It surged right to its weekly trend point & initially reversed lower – reinforcing the weekly downtrend.  It needs a daily close below 87.50/XAU to give the first sign of a reversal lower and signal the onset of a ‘c’ wave decline.

From a cyclic perspective, the next multi-month low is still expected in May 2017 – ideally in [reserved for subscribers]…”

Gold, Silver & Gold Stocks poised for reversals lower after attacking monthly projected resistance & decisive upside targets.  XAU signaling (another) sharp decline.  See Weekly Re-Lay & INSIIDE Track for additional details.