Gold Triggers Early-Oct. Buy Signal…
Gold Triggers Early-Oct. Buy Signal…
Silver Corroborates; XAU Weak.
Metals’ Rally Likely After Nov. 10.
10/31/17 INSIIDE Track:
“Inflation Markets – Metals
10/31/17 – Gold & Silver continue to fulfill ongoing analysis for a 1 – 2 year bottoming process, following major cycle lows in late-2015 & secondary cycle lows in late-2016. The outlook for 2017 was to begin with a ~4 month advance followed by a ~2-month decline, leading into a projected mid-2017 (higher) low… and then a larger advance.
That unfolded with the July 10th low precisely fulfilling that scenario while also perpetuating a ~2-month/60-degreee Cycle Progression. On an intermediate basis, the action in 3Q ’17 honed the outlook & projected a pullback low in early-Oct. – which has also since unfolded.
Gold & Silver set those lows without turning their weekly trends down – projecting a subsequent surge to new highs (above 1362.4/GCZ & 18.290/SIZ). That also triggered a new buy signal in Gold – at 1262.8 – 1273.0/GCZ. This action is strengthening the case for an overall rally into Feb. 2018.
6–12 month & 1–2 year traders & investors should be holding [reserved for subscribers]
Traders can also be entering new long positions in Gold [reserved for subscribers]. Trading Involves Substantial Risk!
The XAU remains in a much weaker (relative) position than Gold, failing to even neutralize its monthly downtrend after turning that trend down in Oct. 2016 and remaining that way up to the present. It spiked up to weekly LHRs in late-August, portending a multi-month top in early-Sept.
The XAU fulfilled that potential and reversed lower in early-Sept. – generating a monthly 2 Close Reversal lower in the process. That reinforced the monthly cycle outlook for an overall drop into Nov. 2017 – when monthly cycles converge. The XAU (& HUI) reversed its weekly trend down as well.
On an intermediate basis, several factors (monthly HLS, previous low, weekly trend, wave targets, potential monthly LLS, etc.) are projecting a drop to [reserved for subscribers] – most likely by the end of November. Cycles portend (at least) a multi-week low in the first half of Nov., the next phase of multiple geometric daily cycles.
A low on Nov. 6 – 10 would fulfill a ~1-month high-high-(low) Cycle Progression and a ~4-month (a very consistent cycle in metals since 2014) low-low-low-(low) Cycle Progression. That ~4-month cycle includes lows on Nov. 11, March 9 & July 10 – focusing on the days around Nov. 10. Daily price action should help distinguish if a 1 – 2 month low is likely at that time… or just a 1 – 2 week low.”
Gold & Silver fulfilled analysis for a low in early-October, at which time Gold triggered a new buy signal (published in the Oct. ’17 INSIIDE Track) at 1262.8 – 1273.0/GCZ. They have since set higher lows in late-Oct. & are still expected to remain above their Oct. 6 lows. In contrast, the XAU is projected to drop to new multi-month lows, leading into first half of Nov. 2017 with a bottom ideally taking hold in the days surrounding Nov. 10. Cycles & indicators poised to turn back up on Nov. 13 – 17.
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.