Gold & Silver Steadily Bottoming
Gold & Silver Steadily Bottoming
XAU Poised for Drop into Nov…
New Gold & Silver Buy Signals.
10/25/17 Weekly Re-Lay Alert – Big Picture Inflection Point:
“Gold & Silver are adhering to daily & weekly cycles, dropping into Oct. 5 – 6 (perpetuating a 12-week high-low-(low) Cycle Progression & a 50% correction in time), then rallying into Oct. 13/16 before retracing to month-opening ranges. That has led to a drop into late-Oct., when a secondary low is most likely.
Gold (barely) turned its daily trend down while Silver did not. Gold also neutralized its intra-month trend, while Silver did not. Silver is turning its daily 21 MAC up, while Gold has not yet done that.
The weekly trends continue to argue for a new rally that could initially last into Nov. 6 – 10 (as part of an overall advance into late-Dec – the culmination of a 12-week low-low-(high) Cycle Progression).
1 – 4 week traders can buy Dec. Comex Gold [reserved for subscribers only]…
1 – 4 week traders can buy Dec. Silver [reserved for subscribers only]. [Trading involves substantial risk!]
The XAU (& HUI) remains weaker than Gold & Silver and is turning its weekly 21 MAC down. That reinforces the outlook for an overall decline into Nov. 2017 – when monthly cycles converge.”
Gold & Silver trigger intermediate buy signals & are poised for secondary low in late-October. They are expected to remain above their Oct. 6 lows as the XAU remains on track for a drop to new multi-month lows, leading into first half of Nov. 2017. Multi-month buy signal also triggered in Gold on Oct. 2 – 6; see Oct. 2017 INSIIDE Track for details & strategy.
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.