Gold & Silver Trading; Weekly LHRs Project ‘b’ Wave Peaks Before Month-End; XAU Could Spike as High as 79.82 in March. April 2019 Cycle Lows are Key!
Gold & Silver Trading; Weekly LHRs Project ‘b’ Wave Peaks Before Month-End; XAU Could Spike as High as 79.82 in March. April 2019 Cycle Lows are Key!
03/16/19 Weekly Re-Lay:
Gold & Silver have rebounded in what could be a ‘b’ wave bounce following their plunge into March 7. At that time, both metals perpetuated 20 – 21 day high-low-low-(low) Cycle Progressions that timed preceding lows on Jan. 24 and Feb. 13 – 14…
Weekly & monthly cycles still project a multi-week Silver low in April 2019, so a late-March daily low – if it materializes on schedule – might only be part of a sequence of lows.
If Silver perpetuates its 20 – 22 week high-high-high-high-low-(low) Cycle Progression, it should bottom on April 1 – 19, with April 8 – 12 providing the ideal week (see March ’19 INSIIDE Track for HCP Diagram) for a bottom.
A low on April 8 – 12 would also complete a 50% retracement in time (14 weeks up/7 weeks down) and a 5-week high-low-(low) Cycle Progression. If an intraday low stretches into April 15/16, it would also be the next phase of that 20 – 21 day low-low cycle…
Gold is likely to (continue to) hold up better, although it could still go back and retest its recent low. During the past week, Gold spiked up to its weekly LHR (extreme upside target for this past week) at 1311.3/GCJ and held, signaling that a new multi-week high (most likely a lower high) should take hold in the coming week(s)…
Based on multiple factors, Gold & Silver are expected to remain in a consolidation phase during the coming weeks – experiencing repeated 3 – 5 day swings in both directions.
The XAU rebounded to within a few ticks of its weekly LHR… That also took the XAU to within striking distance of its monthly resistance – at 78.37 – 79.82/XAU – before reversing lower.
The next 2 – 3 days should be decisive since the XAU cannot turn its daily trend back down until March 19, the same day that the inversely-correlated daily 21 MARC will begin to surge (exerting a potentially negative influence on price). Congestion should prevail for a couple more weeks.”
Gold, Silver & XAU are rallying in ‘b’ wave rebounds that should ultimately give way to ‘c’ wave declines – leading into cycle lows most synergistic on April 8 – 19. The XAU could still rally as high as 79.82/XAU in March as weekly LHRs portend intermediate peaks before month-end.
What Should Follow April 2019 Cycle Lows?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.