Gold v Gold Stocks II

Gold v Gold Stocks II
XAU Projects Lower Lows…
77.50 – 78.50 = Primary Target.

 

11/15/17 Weekly Re-Lay Alert:

Gold & Silver remain neutral on a 1 – 2 month basis while slightly negative on a 2 – 4 week basis.  The weekly trend patterns are still arguing for a rally back to the September highs, but have entered a pivotal period when they need to show new signs of strength in order to validate that potential…

Last week, Silver spiked up to weekly & monthly resistance & immediately reversed lower – signaling a 1 – 2 week peak.

On a near-term basis, Gold & Silver turned their weekly 21 MACs down on Nov. 3, but are now in a position to turn these back up with the weekly 21 High MACs already turning up this week.

However, Gold & Silver need to turn their daily & intra-month trends up – with daily closes above 1289.5/ GCZ & 17.255/SIZ – to remove the potential for an intervening spike low.  Until that occurs, they remain in a vulnerable position that could spur a quick bout of new selling…

The XAU remains weaker and has already spiked to new lows and initially perpetuated a similar 18 – 19 week high-high-high-high-low-low-low Cycle Progression that includes the July 10 – 14 & March 6 – 10 weekly lows.

This also initially fulfills the 3 – 6 month & 6 – 12 month outlook for a multi-month low in Nov. (or Dec.) 2017 – the latest phase of an 11 – 12 month low-low-low Cycle Progression.  The XAU (& HUI) remains in a monthly & weekly downtrend – in contrast to Gold & Silver – and remains in a weekly 21 MAC down trend.

On an intermediate price basis, focus remains on analysis for a drop to 77.50 – 78.50/XAU.  The current week’s HLS (extreme downside target) is at 78.30/XAU while the weekly 21 Low MARC is at 78.66/XAU.

A daily close above [reserved for subscribers] is needed to give the very first signs of a multi-week reversal higher.  Until then, the trend remains down.”

 

Gold & Silver continue slowly rally from their Oct. 27 lows, but have not shown any signs of extending this beyond a 2 – 4 week advance.  If monthly resistance continues to hold, it could exert negative pressure after daily cycles peak on ~Nov. 17.  Meanwhile, the XAU remains weak & continues to project a drop to 77.50 – 78.50 before a low becomes conceivable (but not assured).  Gold stocks remain in negative daily, weekly, weekly 21 MAC & monthly trends.

 

See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.