Gold Validating ‘Imminent Low’! New Long Positions. Focus Shifts to Bullish Cycles in Late-May. How High Could (Projected) Advance into June/July Reach?
Gold Validating ‘Imminent Low’! New Long Positions. Focus Shifts to Bullish Cycles in Late-May. How High Could (Projected) Advance into June/July Reach?
04/27/19 Weekly Re-Lay:
“Gold & Silver are showing signs of a low, with the XAU’s weekly trend pattern arguing for a reversal higher this week… Gold & Silver reversed higher after spiking down to key levels of support with Gold retracing exactly 50% of its Aug. ’18 – Feb. ’19 advance. Gold’s weekly trend pattern projected a reactive 1 – 3 week rally to begin this past week, which is currently unfolding…
Both metals are expected to undergo advances into May 28 – 31 – the next phase of a ~7-week low-low-low-high-high-high-(high) Cycle Progression in Gold and a corresponding 13 – 14 week low-low-high-(high) Cycle Progression in both metals.
Gold would need to turn its weekly trend back up, during that overall rally, in order to project higher highs into July 2019 (which would fulfill monthly cycles and also be the next phase of the ~7-week high-high cycle). That would also be the latest phase of the overall 2019 scenario, described in multiple publications.
Since the Feb. 20 peaks (projected in the Feb. 20, 2019 INSIIDE Track Report – Gold & Silver 2019 – Cycle Crescendo?), Gold & Silver have been in a correction that was expected to stretch into April and take Gold back down to key support.
3 – 6 month & 6 – 12 month traders and investors – basis the INSIIDE Track newsletter – were advised to exit long positions in Feb. and to wait to re-enter Gold until it reached, at the very least, 1274.5/GCM. Gold just reached that level – a decisive fulfillment of timing and price projections for an intermediate low and reversal higher. (See the April 2019 INSIIDE Track for additional details on this trading strategy.)”
Gold is confirming signs of a developing bottom as 3 – 6 month traders were just triggered back into long positions (exited near the late-Feb. peak) in preparation for a new rally into June/July 2019. A bottoming phase should now unfold, with cycles expected to turn more decidedly bullish leading into late-May.
Is Gold corroborating Month of Aggression suspicions?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.