Gold & Silver Trading: Downward Reversals Validating Cycle Highs & Corroborating Outlook for 2019. ~2-Month Correction into April 2019 Projected.
Gold & Silver Trading: Downward Reversals Validating Cycle Highs & Corroborating Outlook for 2019. ~2-Month Correction into April 2019 Projected.
02/27/19 Weekly Re-Lay Alert:
Gold & Silver extended their selling after peaking on Feb. 20, in sync with the latest phase of their 6 – 7 week low-low-low-low-high-(high) AND 13 – 14 week low-low-low-low-high-(high) Cycle Progressions.
This came after Gold surged to dual weekly LHR levels (extreme upside targets for this week) at 1344.5 – 1345.2/GCJ while testing the monthly Raw SPR (1350.0/GCJ) and overall monthly resistance (the projected high for Feb. 2019) at 1350.5 – 1363.4/GCJ.
Since then, Gold has neutralized its daily uptrend while Silver re-entered its daily downtrend and just closed below its now-descending daily 21 Low MAC while turning its intra-month trend back down. If it can close below 15.625/SIK tomorrow (Feb. 28 settlement), Silver would generate a monthly 2 Close Reversal lower and project downside follow-through.
The XAU has sold off after surging into weekly & monthly cycles while attacking its monthly projected high/resistance at 80.42 – 82.56. That also included the descending monthly 21 High MAC. It has neutralized its intra-month uptrend and could close lower on the month with a Feb. 28 settlement below 76.30.
The XAU did set another 1 – 2 week peak on Feb. 20/21 – the latest phase of a 21 – 22 day low-high-high-high-(high) Cycle Progression and could see a sell-off into March xx – xx. If the XAU does close lower on the month, it could drop to March’s HLS – currently at [reserved for subscribers].”
Gold & Silver are confirming reversals lower after fulfilling multi-month, multi-week & multi-day cycle highs AND attacking extreme upside price targets. They have entered dangerous period and could corroborate that with Feb. 28 closing levels. This action reinforces analysis for a ~2-month correction into April 2019.
Why is Daily 21 MARC Projecting Bearish Period for Feb. 25 – March 4?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.